Two US senators said on Tuesday that they have agreed to postpone a vote on a punitive tariffs bill against China.

The bill, sponsored by Lindsey Graham, a Republican from South Carolina, and Charles Schumer, a Democrat from New York, would impose 27.5 percent tariffs on Chinese imports if the currency dispute between the two countries is not settled.

The two senators said at a news conference that they had agreed to put off a vote on their bill, which was due to take place this Friday, "to no later than September 29".

Graham and Schumer returned Sunday from a trip to China, where they met with top Chinese officials.

In meeting with the U.S. Senators last week, Chinese Vice Premier Wu Yi said the bilateral economic and trade cooperation has brought about substantial benefits for people of the two countries and it is in the common interests to keep and further develop such relations.

Wu expressed her hope that the U.S. will cooperate closely with China and rely on consultations to resolve the existing problems in the process of development.