Mnuchin: US needs 'action items' for China trade deal

Economy | Politics 10/12/2018, 11:13 AM
Mnuchin: US needs 'action items' for China trade deal

United States Treasury Secretary said on Friday he told the Chinese Governor of the People's Bank of China Yi Gang Washington needs to include currency policy in any discussions on trade. Speaking on the sidelines of the International Monetary Fund meetings in Bali, Mnuchin explained that the Trump administration needs concrete “action items” from Beijing on trade in order to resume talks.

The annual trade relationship between China and the US is approaching the size of the North American Free Trade Agreement (NAFTA), he underscored, adding that if rebalanced it could be worth $1 trillion.

The Treasury Secretary took the opportunity to reiterate his opinion that the stock market is experiencing a “normal correction.” US stock index futures are currently in the green, indicating the market selloff could well be over.

Breaking the News / JC

Share: