Trump says Mnuchin, USTR to travel to China for trade talks

Trump says Mnuchin, USTR to travel to China for trade talks

China has said it would welcome a visit by US Treasury Secretary Steven Mnuchin, who is seeking to resolve a tense trade dispute between the world's two largest economies after Mr Trump threatened to impose tariffs on Chinese imports.

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

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 US exports if the Trump administration moves forward with the tariffs.

He said the two sides had a "very good chance" of reaching an agreement.

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Zhong added that mandatory domestic partnership requirements for foreign companies to operate in the Chinese market could be relaxed further, particularly in the automotive, aerospace, and shipbuilding sectors.

Kristian Rouz - Mainland China's Commerce Minister has decried all forms of protectionism in the latest development of the nation's trade standoff with the US.

The Treasury Department said Saturday that Mnuchin would travel to China but didn't say when he would go.

"China has received the information that the U.S. side wish to come in Beijing in order to conduct economic and trade consultations".

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The IMF's governing committee in a statement at the conclusion of the ministerial meeting highlighted the risks presented by "increasing trade and geopolitical tensions".

Earlier this week, Secretary Mnuchin met with the new Governor of the People's Bank of China Yi Gang, and discussed monetary policies and financial market regulations.

Christopher Balding, associate professor at the HSBC Business School in Shenzhen, said: "I wouldn't read too much into it".

While the meeting with Yi did not focus on trade with China, Mnuchin said he remains "cautiously optimistic" about the issue.

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Mnuchin also said he met with Russian Finance Minister Anton Siluanov during the International Monetary Fund meeting, at Russia's request.

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