U.S. Treasury Secretary Steven Mnuchin said on Wednesday he will likely travel t...
WASHINGTON - U.S. Treasury Secretary Steven Mnuchin said on Wednesday he will likely travel to China soon to continue talks as Washington and Beijing seek to resolve a trade war that has cast a pall over the global economy and financial markets.
Mnuchin’s remarks dovetailed with a cooling of the Trump administration’s rhetoric toward China after another round of tit-for-tat tariffs between the world’s two largest economies and a selloff on global stock markets. The U.S. Department of Agriculture has paid out $8.52 billion directly to farmers as part of a 2018 aid program designed to offset losses from trade tariffs by China and other trading partners, a spokesman for the agency said on Wednesday.
“We made the case as we have been doing for some time that the best outcome for both Canadians and Americans would be to lift those tariffs and to have free trade between our two countries who have this fantastic trading relationship in place,” Freeland said. Global stock markets, which have swooned in the past week on the back of rising trade tensions, were trading mostly higher, with major U.S. indexes adding to gains from Tuesday.Trump, who has embraced protectionism as part of an “America First” agenda and railed against what he describes as China’s unfair trade practices, has not ruled out imposing punitive levies on all of China’s imports to the United States.
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