US treasury secretary Steven Mnuchin recently said he does not see the threat of a recession as the government seeks to revive trade negotiations with China. Expecting a positive year ahead for the US economy, he said US officials still aimed to ‘get a good deal’ with Beijing as talks between both sides are scheduled to start again in the coming weeks.
Chinese officials at the vice-minister level will travel to Washington in mid-September, followed by meetings in Washington between Chinese Vice Premier Liu He, Mnuchin, and US Trade Representative Robert Lighthizer.US treasury secretary Steven Mnuchin recently said he does not see the threat of a recession as the government seeks to revive trade negotiations with China. Expecting a positive year ahead for the US economy, he said US officials still aimed to 'get a good deal' with Beijing as talks between both sides are scheduled to start again in the coming weeks.#
“We have a document, we’ve made a lot of progress, they’re coming here, I take that as a sign of good faith that they want to continue to negotiate,” Mnuchin told a television network.
“And we’re prepared to negotiate. If we can get a good deal, a deal that’s good for us, we’ll sign it. If not the president is perfectly fine with continuing the tariffs,” he said.
Mnuchin told reporters outside the White House that Yi Gang, the People’s Bank of China’s governor, would attend the October meetings and the two sides would discuss ‘currency and currency manipulation’.
The US Treasury last month formally declared China a currency manipulator under a 1988 trade law, a step that would require specific negotiations with an offending country. (DS)
ALCHEMPro News Desk – India
marketing@alchempro.com
