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

25 April, 2018, 16:05 | Author: Teresa Adams
  • WSJ: Mnuchin to Travel to China for Trade Talks Next Week

"I believe the trade will work out but I also think China has never treated us with more respect than they have over the last short period of time that I'm president", Trump said.

An Associated Press report says U.S. Treasury Secretary Steven Mnuchin showed cautious optimism over the weekend that the U.S. and China could settle their differences without a full-blown trade war.

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Trump's remarks came after Mnuchin said on Saturday that he was considering a trip to China but was "not going to make any comment on timing, nor do I have anything confirmed". 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.

Mnuchin recently discussed Xi's proposals with Chinese officials, saying "we're cautiously optimistic". While he's met with Chinese counterparts in Washington and during G-20 meetings in Europe, Mnuchin hasn't traveled to meet them on their home turf.

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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.

Unilateralism and trade protectionism will inevitably harm others without benefiting oneself as the global economy is deeply integrated, China's Foreign Ministry spokesperson Hua Chunying said Thursday.

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