Get 40% Off
⚠ Earnings Alert! Which stocks are poised to surge?
See the stocks on our ProPicks radar. These strategies gained 19.7% year-to-date.
Unlock full list

U.S. Treasury's Mnuchin spoke with China Vice Premier Liu: WSJ

Published 11/12/2018, 08:09 PM
Updated 11/12/2018, 08:09 PM
© Reuters. FILE PHOTO - U.S. Treasury Secretary Mnuchin speaks during his interview with Reuters in Jerusalem

(Reuters) - U.S. Treasury Secretary Steven Mnuchin has resumed discussions with China Vice Premier Liu He, with the two speaking by telephone on Friday, the Wall Street Journal reported on Monday, citing sources.

The conversation did not lead to any breakthrough to resolve the tariff dispute between the world's two largest economies, the WSJ reported.

A U.S. Treasury spokesman did not immediately respond to a query about the report.

The development comes as China President Xi Jinping and U.S. President Donald Trump plan to meet on the sidelines of a G20 summit that is being held in Argentina at the end of November and early December.

Earlier this month, after a phone conversation with Xi, Trump said he thought the United States would make a deal with China on trade but stood ready to levy more tariffs on Chinese goods if no progress is made.

Trump has imposed tariffs on $250 billion of Chinese goods to pressure Beijing to stop intellectual property theft and forced technology transfers, improve market access for U.S. firms and cut China's high-tech industrial subsidy program - major shifts away from China’s state-led economic model.

The tariff rate on $200 billion in Chinese goods is set to increase to 25 percent from 10 percent on Jan. 1. Trump has also threatened to impose tariffs on all remaining Chinese imports, about $267 billion worth, if China fails to address U.S. demands.

© Reuters. FILE PHOTO - U.S. Treasury Secretary Mnuchin speaks during his interview with Reuters in Jerusalem

Mnuchin in October said that China needed to identify concrete "action items" to rebalance the two countries' trade relationship before talks to resolve their disputes could resume.

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.