in the vicinity
Steven Mnuchin talks trade war fears, the stock market tremors
Finance Minister weighs in on President Trump the tariffs, threats of a trade war, and falls in the stock market.
China and the U.S. have quietly started negotiations to improve U.S. access to the Chinese markets after a week of the threat of duties address filled with harsh words from both sides about Washington, imbalances in the trade people with knowledge of the matter said.
The talks, the coverage of large areas, including financial services and manufacturing, led by Liu He, China’s economic Czar in Beijing, and U.S. Secretary of the Treasury, Steven Mnuchin and US trade Robert Lighthizer representative in Washington.
In a letter Mnuchin and Lighthizer sent to Liu, a reduction in Chinese tariffs on U.S. cars, more Chinese purchases of U.S. semiconductors, and better access to China’s financial sector by US companies, said the end of last week, the Trump administration special requirements, the the people. Mnuchin is a weight from a trip to Beijing to continue the negotiations, as one of the people said.
Mnuchin on Saturday called Liu, President Xi Jinping’s top economic advisers, whose promotion as Vice-premier, during the just-concluded annual session essentially makes him the economic captain.
“Secretary Mnuchin called Liu he congratulate him on the official announcement of his new task,” a Treasury spokesman said. “They also discussed the deficit in trade between our two countries and committed to the continuation of dialogue to find to reduce a mutually acceptable way.”
This could come behind-the-scenes discussions as a relief for those who have the power to beat unsettled by the announcements last week of plans for the United States China with tariffs, investment restrictions and other measures in respect of the US $375 billion merchandise trade deficit with the world’s second leading economic. The Declaration—and the immediate threat of Chinese retaliation, sent the US stock prices into a sharp decline.
Farm-belt, the components of the President, Donald Trump, whose exports face possible retaliatory tariffs from China, complained about the tariff plans, and in foreign capitals in Canberra in Brussels, the US allies nervous weighed diplomatic options, as tensions mounted between Washington and Beijing.
Click for more from The Wall Street Journal