WASHINGTON (Reuters) – U.S. Treasury Secretary Steven Mnuchin said on Wednesday he will likely travel to China soon to continue talks as Washington and Beijing seek to resolve a trade war that has cast a pall over the global economy and financial markets.
Mnuchin did not elaborate on the timing of future negotiations but characterized two days of high-level talks with Chinese officials in Washington last week as constructive.
Expectation - Beijing - Point - Future - Discussions
“My expectation is that we will go to Beijing at some point in the near future to continue those discussions,” he said in a U.S. Senate Appropriations subcommittee hearing. “We’re continuing discussions. There’s still a lot of work to do.”
Mnuchin’s remarks dovetailed with a cooling of the Trump administration’s rhetoric toward China after another round of ****-for-tat tariffs between the world’s two largest economies and a selloff on global stock markets.
Tuesday - US - President - Donald - Trump
On Tuesday, U.S. President Donald Trump denied the talks with China had collapsed and sounded an optimistic note about the chance of a deal to end the trade war, saying he had an “extraordinary” relationship with Chinese President Xi Jinping.
Trump, who plans to meet Xi at a G20 summit in Japan next month, also urged China to buy more U.S. farm products.
US - Goods - Soybeans - China - Retaliatory
U.S. agricultural goods, including soybeans, have been targeted by China’s retaliatory tariffs, and American farmers, a key political constituency for Trump, are frustrated with the failure of the two sides to find a solution to the dispute.
The U.S. Department of Agriculture has paid out $8.52 billion directly to farmers as part of a 2018 aid program designed to offset losses from trade tariffs by China and other trading partners, a spokesman for the agency said on Wednesday.
Trump - Administration - Aid - Losses - Crops
The Trump administration had pledged up to $12 billion in aid to help offset losses for crops hit by Chinese tariffs.
Amid complaints from trading partners in...
Wake Up To Breaking News!
If the Government could just stop...