China will welcome US treasury secretary visit to talk trade

BEIJING: China said today it would welcome a visit from US Treasury Secretary Steven Mnuchin, who said he was considering a trip to the Chinese capital to hold talks on the trade dispute seen as a threat to the global economy.
Tensions between the world’s two largest economies have cast a shadow over the gathering of finance ministers in Washington, with concerns a trade war could undercut the global recovery.
Mnuchin had said Saturday during the spring meetings of the International Monetary Fund and the World Bank in the US capital that “a trip is under consideration”.
The Chinese Commerce Ministry today welcomed the move.
“China has received the information that the US side wishes to come in Beijing in order to conduct economic and trade consultations. China welcomes this.”
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.
Among 18 bilateral meetings with his counterparts last week, Mnuchin said he had met with Chinese central bank chief Yi Gang.
While the meeting with Yi did not focus on trade with China, Mnuchin said he remains “cautiously optimistic” about the issue.
“The discussions were really around the governor’s actions at the PBOC and certain actions they’ve announced in terms of opening their markets which we very much encourage and appreciate,” Mnuchin said. – AFP