U.S. Treasury Secretary Henry Paulson reiterated here on Friday that Sino-U.S. economic relations are very important amid trade tensions.

On the 16th annual meeting of Committee of 100, a group of prominent Chinese Americans, he said that the Sino-China economic relationship is very important, which benefits both nations.

The U.S.-China economic relations have been in tensions since last month when the U.S. government announced sanctions against Chinese paper imports and filed two new complaints against China at the World Trade Organization.

"As our relationship with China grows, matures, tensions were naturally emerged," said Paulson, who is to meet Chinese Vice Premier Wu Yi next month for the second round of Strategic Economic Dialogue in Washington.

"Today with the U.S.-China trade expands rapidly, there is clear sense of frustration with China in political circles, and a number of industries," said the former Goldman Sachs chief.

However, "when disagreement arrives, it's important to discuss it kindly, find a way to bring the differences, and make process, so the both country benefit," he emphasized.

"America runs a huge deficit with China, but exports to China are growing rapidly, and should continue to do so in the future," said Paulson.

According to the Commerce Department, U.S. trade deficit with China decreased by 13.3 percent in February to 18.4 billion U.S. dollars, the smallest since last May.

Source: Xinhua