Trade tensions stirred up by the US are over-shadowing the growth prospects of America's two largest trading partners -- the European Union and China. Economists and top officials from both sides sat down on Tuesday for a discussion on the challenges and opportunities they are facing as trade disputes with the US drag on. Michelle van den Bergh reports.

The end to the global trade turmoil is nowhere to be seen. In fact, it seems like it's going in the exact opposite direction after the US implemented tariffs on another 200 billion dollars of Chinese imports on Monday and China retaliated with counter-measures a day later. Trade ties between the US and the EU are on shaky ground as well as the two sides rush to hammer out a new trans-Atlantic trade deal. There are no signs that the Trump administration will change course on its protectionist policies any time soon and because of that, China and EU are left to uphold the multilateral trade system.

ZHOU XIAOCHUAN FMR. PBOC GOVERNOR "The trade frictions are never just a China, US issue. It concerns all the participants that are included in this giant web called the global trading system. It is our hope that communications and collaborations between China and the EU, among EU nations can be improved to weather the impact of those tit-for-tat trade disputes."

WEI JIANGUO, FMR. DEPUTY MINISTER CHINESE MINISTRY OF COMMERCE "China and the EU are at the threshold of a brand-new cooperation. But there are still some misunderstandings about each other. We should fully take advantage of those meetings to get rid of those doubts."

ZHU GUANGYAO, FMR. DEPUTY MINISTER CHINESE MINISTRY OF FINANCE "China and the EU share the same values when it comes to the global trade mechanism. The two sides also stand on the same ground in terms of sharing economic benefits despite minor differences."

The sit-down event was held by the China Center for International Economic Exchanges and the Belgium think tank. China hopes that through this platform, more nations could join the discussion to strengthen cooperation amid global economic uncertainties. Michelle van den Bergh, CGTN.