'Very good chance' of a US-China trade deal

25 April, 2018, 16:08 | Author: Shannon Aguilar
  • Trump: Mnuchin, Lighthizer to travel to China to 'negotiate on trade' in coming days

Trump made the remarks at the White House following a meeting with visiting French President Emmanuel Macron, according to the White House pool report, Xinhua reported.

President Donald Trump says Treasury Secretary Steven Mnuchin (mih-NOO'-shin) will soon travel to China for talks as the two global economic powers deal with trade tensions.

The Trump administration has proposed tariffs on more than 1,300 Chinese products in response to complaints about China's acquisition of US intellectual property.

"We've put on very substantial tariffs, and that will continue unless we make a trade deal". The Chinese government in turn proposed its own tariffs on USA goods, targeting agriculture and other exports from rural and Midwest areas important to Trump's election.

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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.

In a speech earlier this month, Chinese president Xi Jinping said his country would open itself wider to foreign companies.

While some of the rhetoric around the trade tariffs on China has ceased down over the past couple of weeks, the prospect of a trade war has not.

The Commerce Ministry in Beijing said last weekend that China would welcome a visit from the U.S.to discuss trade issues.

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