Treasurer and US discuss trade with China

Treasurer Josh Frydenberg will fly to Japan next month as global leaders come together to confront ongoing trade tensions between the US and China.

Mr Frydenberg spoke with US Treasury Secretary Steven Mnuchin on Thursday morning, their talk coming days after the Morrison government was returned to power.

The pair will meet again at the G20 finance ministers meeting in June.

"We had a good discussion about the global economy and obviously some of the trade tensions, too, between the US and China," Mr Frydenberg told Adelaide radio station 5AA.

"The trade tensions between China and the US are real, and the United States is Australia's number one investor, and China is our number one trading partner.

"So obviously, we want those countries to get along."