Get 40% Off
🤯 This Tech Portfolio is up 29% YTD! Join Now to Get April’s Top PicksGet The Picks – Just 99 USD

U.S., China Have ‘Fundamental Agreement’  on Trade, Mnuchin Says

Published 10/14/2019, 08:13 AM
Updated 10/14/2019, 08:53 AM
U.S., China Have ‘Fundamental Agreement’  on Trade, Mnuchin Says

U.S., China Have ‘Fundamental Agreement’  on Trade, Mnuchin Says

(Bloomberg) -- The U.S. and China made a “fundamental agreement” on several trade issues last week though there are still many details to be worked out and documented, Treasury Secretary Steven Mnuchin said.

“I expect there will be a deal,” Mnuchin said Monday on CNBC television. The sides made “substantial progress” last week in negotiations and Mnuchin said he expects President Donald Trump and Chinese leader Xi Jinping to finalize the accord at a summit in Chile next month.

Bloomberg News reported earlier Monday that China wants further talks as soon as the end of October to hammer out the details of the “phase one” trade deal touted Friday by Trump before Xi agrees to sign it, according to people familiar with the matter.

Asked about reports that a deal might be further off, Mnuchin said he “wouldn’t pay too much attention” to what he called speculation.

The details of the verbal agreement reached in Washington last week between the two nations remain unclear. While Trump hailed an increase in agricultural purchases as “the greatest and biggest deal ever made for our Great Patriot Farmers in the history of our Country,” China’s state-run media only said the two sides “agreed to make joint efforts toward eventually reaching an agreement.”

Mnuchin repeatedly said on CNBC that the countries have a “fundamental agreement” even though the wording and details are still to be worked out.

Latest comments

I told you guys ... these men running our country are not men. Thry can't treat a business partner with any respect. It should.be very simple, a deal needs to benefit both sides, no party should view themselves as superior or the other as underdogs. China has been very polite and act like business men, so time for Trump to grow up.
damage control.lol.
Fundamentally dysfunctional. Too much greed on American politicians part. By trading with China the US is supporting the Chinese socialist regime while the people in Hong Kong risk everything for freedom. It is time to cut the Chinese cheap labor umbilical cord once and for all time. This is beyond making money on the stock market. It is about standing up for American ideals and not selling our children's future for an even more propped up currency.
cutting the cord would mean forfeiting capitalism and we know the United states loves capitalism
NO ONE believes your constant LYING anymore. . . the easy to win trade wars have been going on for over two years now. . . we are now in a cold war that will last for decades
face saving comments by this liar
Liar pants on fire
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.