U.S. Treasury Secretary Steven Mnuchin said Friday he held constructive talks in Beijing with Chinese officials, concluding the latest round of talks aimed at ending the trade war between the world's two largest economies.
Mnuchin and U.S. Trade Representative Robert Lighthizer are in the Chinese capital for their first meetings in weeks between the two sides.
@USTradeRep (Lighthizer) and I concluded constructive trade talks in Beijing, Mnuchin said on Twitter. I look forward to welcoming Chinese Vice Premier Liu He to continue these important discussions in Washington next week, he added.
Earlier, Mnuchin told reporters that he had a very productive working dinner on Thursday night (28.3.2019), without specifying with whom he had dined.
Neither side has offered details of the latest round of talks and the U.S. delegation is expected to leave Beijing on Friday afternoon without issuing a formal statement.
U.S. President Donald Trump imposed tariffs on $250.000 billion worth of Chinese imports last year to force the Asian country to change the way it does business with the rest of the world and make it more open to American companies.
Premier Li Keqiang said on Thursday that Beijing will significantly expand market access for foreign banks and securities and insurance companies, fuelling speculation that the Asian giant will soon announce new rules allowing foreign financial firms to increase their presence.
White House economic adviser Larry Kudlow said the United States could roll back some tariffs if a trade deal is reached, but would keep others in place to ensure Beijing's compliance.
We're not going to give up our influence, Kudlow told reporters in Washington on Thursday.
Source: Reuters
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