Trump sees "very good chance" of US-China trade deal

Adjust Comment Print

Treasury Secretary Steven Mnuchin and U.S. Trade Representative Robert Lighthizer will travel to China "in a few days" to talk trade, Trump said on Tuesday, adding he thinks there is a "very good chance of making a deal" of sorts with Beijing.

US President Donald Trump last month approved steep tariffs on tens of billions of dollars of Chinese imports, while Beijing has slapped duties on key US agricultural exports and has threatened to do likewise for the sensitive American soybean industry.

"A trip is under consideration", Mnuchin said.

Mnuchin told reporters over the weekend he was considering a trip, prompting Beijing to announce Sunday that China "welcomes" the move.

This will be Mnuchin's first China visit since he was sworn in as US Treasury Secretary in February past year.

In a statement posted online, China's Ministry of Commerce said: "The Chinese side has received information that the USA side hopes to come to Beijing to discuss economic and trade issues".

Israel warns Iran: we are ready to strike you in Syria
We are not ready for the Northern front, but for several fronts altogether. "We have learned methods of overcoming our enemies", he added.

"I would rather deal just with France", he said.

"We have to make sure that if there are disputes, those disputes are resolved", said IMFC Chairman and Governor of the South African Reserve Bank Lesetja Kganyago.

Trump accuses China of driving up a yawning, US$337 billion trade deficit with the United States through unfair trade practices which he believes undermine the American industrial base and workforce.

Secretary Mnuchin subsequently said the elevated trade tensions could be defused.

During this past weekend, Secretary Mnuchin also had conversations with his Russian and Japanese counterparts on the sidelines of an International Monetary Fund event in Washington. Moscow is seeking "clarification" on USA sanctions, Mnuchin said, without elaborating. "We will continue to look at the use of sanctions in all different areas", he said. Trump had a "very successful" meeting this week in Florida with Japanese Prime Minister Shinzo Abe, Mnuchin said.