Mnuchin to visit China to discuss trade issues

25 April, 2018, 16:05 | Author: Natasha Holloway
  • Talks with US on trade dispute welcome, says Beijing

Trump, speaking at the White House following a meeting with French President Emmanuel Macron, also said the US was engaged in serious trade talks with the European Union, adding that US-France trade relations were very good.

Treasury Secretary Steven Mnuchin is headed to China in "a few days" to resolve the ongoing trade dispute between the world's two largest economies. "We've got a very good chance at making a deal".

"So we're going to have a delegation, at their request, go to China".

"It is important that as a global community we keep trade open and ensure that we work within the multilateral system". If the two sides can't reach agreement, he said, proposed USA tariffs on billions of dollars in Chinese goods will take effect as planned.

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Trump has authorised tariffs on about US$50 billion (S$66 billion) in Chinese exports in response to China's alleged theft of American intellectual property.

And on Tuesday Trump described his relations with Chinese President Xi Jinping as "excellent".

The Trump administration has recently threatened to impose tariffs on up to 150 billion USA dollars of Chinese imports, while China has vowed to retaliate against United States exports if the Trump administration moves forward with the tariffs.

Mnuchin has expressed optimism that the countries could avoid a trade war.

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