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

Stock Markets Oct 14, 2019 08:53AM ET
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(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.

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

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Comments (6)
David David
David9 Oct 14, 2019 10:16AM ET
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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.
Jonathan Snell
Jonathan Snell Oct 14, 2019 9:37AM ET
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damage control.lol.
Steve Bucher
Steve Bucher Oct 14, 2019 9:23AM ET
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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.
Jonathan Snell
Jonathan Snell Oct 14, 2019 9:23AM ET
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cutting the cord would mean forfeiting capitalism and we know the United states loves capitalism
Brad Dover
Brad Dover Oct 14, 2019 9:03AM ET
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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
Dee Mehta
DMFINANCE Oct 14, 2019 8:55AM ET
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face saving comments by this liar
Dee Mehta
DMFINANCE Oct 14, 2019 8:55AM ET
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Liar pants on fire
 
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