Mnuchin Says US, China In Final Stage Of Negotiations – Market News Store

Mnuchin Says US, China In Final Stage Of Negotiations

The trade talks conducted between the United States and China were at the focus of the world. Treasury Secretary Steven Mnuchin released a statement last Sunday in which he mentioned that these trades were at a critical point as an American delegation would visit Beijing this week and try to finalize the terms of a long-awaited deal.

The US and China had spent more than a year in trying to find a solution over a trade dispute and reach a mutual agreement. This agreement would be the key point to rebuild economic relationship amongst the world’s largest economies.

Mr. Mnuchin being one of the leading negotiators for president Trump said even though both the sides were near to having an agreement, much was still needed to be done. The talks were at a critical point which would either make the deal or break the deal. The deal had just entered into its final stage.

To successfully make this deal Mr. Mnuchin and another of this accomplice Mr. Robert E. Lighthizer headed to china on Monday to try and resolve the remaining issues. In response, the Chinese officials will be expected to arrive at Washington on the following week to maintain and possibly put an end to this deal.

America had imposed tariffs on $250 billion worth of Chinese goods with the hope that Beijing my make the significant changes to its economic practices. The US had given countries including China a deadline of May 1 to put an end to their purchases over Iranian oil or face American sanctions.

China which is known to import large quantities of oil from Iran has criticized this move. It would be notable to see whether United States would agree to withdraw all or at least some of the tariffs it had placed over the Chinese products.

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