Market

Mnuchin: Trump “determined as ever” for fair, reciprocal trade with China

WASHINGTON, US Secretary of Treasury Steven Mnuchin affirmed Sunday that President Donald Trump is “determined to have fair and reciprocal trade with China,” saying “he’s determined as ever on this issue.” Mnuchin told Fox network that Trump “wants a good deal. He wants free, fair, and reciprocal trade,” saying that Trump has “lots of options. And again, our first choice is to have fair and reciprocal trade.” He added that the reason the US imposed tariffs on China is “for the last two and a half years, we’ve been working with China to rebalance the trading relationship and it hasn’t rebalanced. The trade deficit has grown significantly despite assurances from China that we would improve this.” He affirmed that “and to the extent that the Chinese respond again, you can assume the president will consider all his options.” Furthermore, Mnuchin noted that Trump and Chinese leader “have a very good relationship but as it relates to financial issues and trade, you know, we have become enemies. We’re not making progress.” He reiterated that Trump “is very determined. He’s trying to correct something that’s gone on for the last 20 years, but we have a very unfair trading relationship that’s been a tremendous disadvantage to US companies and US workers. And he’s working hard to rebalance that.” On Friday, Trump announced he was increasing tariffs on Chinese products from 25 to 30 percent, effective October 1st, reacting to China’s imposition of retaliatory tariffs on US imports worth about USD 75 billion in response to the recent US tariff hikes on Chinese goods, announced on August 1st.

Source: Kuwait News Agency

Market

Mnuchin: Trump “determined as ever” for fair, reciprocal trade with China

WASHINGTON, US Secretary of Treasury Steven Mnuchin affirmed Sunday that President Donald Trump is “determined to have fair and reciprocal trade with China,” saying “he’s determined as ever on this issue.” Mnuchin told Fox network that Trump “wants a good deal. He wants free, fair, and reciprocal trade,” saying that Trump has “lots of options. And again, our first choice is to have fair and reciprocal trade.” He added that the reason the US imposed tariffs on China is “for the last two and a half years, we’ve been working with China to rebalance the trading relationship and it hasn’t rebalanced. The trade deficit has grown significantly despite assurances from China that we would improve this.” He affirmed that “and to the extent that the Chinese respond again, you can assume the president will consider all his options.” Furthermore, Mnuchin noted that Trump and Chinese leader “have a very good relationship but as it relates to financial issues and trade, you know, we have become enemies. We’re not making progress.” He reiterated that Trump “is very determined. He’s trying to correct something that’s gone on for the last 20 years, but we have a very unfair trading relationship that’s been a tremendous disadvantage to US companies and US workers. And he’s working hard to rebalance that.” On Friday, Trump announced he was increasing tariffs on Chinese products from 25 to 30 percent, effective October 1st, reacting to China’s imposition of retaliatory tariffs on US imports worth about USD 75 billion in response to the recent US tariff hikes on Chinese goods, announced on August 1st.

Source: Kuwait News Agency

Market

Mnuchin: Trump “determined as ever” for fair, reciprocal trade with China

WASHINGTON, US Secretary of Treasury Steven Mnuchin affirmed Sunday that President Donald Trump is “determined to have fair and reciprocal trade with China,” saying “he’s determined as ever on this issue.” Mnuchin told Fox network that Trump “wants a good deal. He wants free, fair, and reciprocal trade,” saying that Trump has “lots of options. And again, our first choice is to have fair and reciprocal trade.” He added that the reason the US imposed tariffs on China is “for the last two and a half years, we’ve been working with China to rebalance the trading relationship and it hasn’t rebalanced. The trade deficit has grown significantly despite assurances from China that we would improve this.” He affirmed that “and to the extent that the Chinese respond again, you can assume the president will consider all his options.” Furthermore, Mnuchin noted that Trump and Chinese leader “have a very good relationship but as it relates to financial issues and trade, you know, we have become enemies. We’re not making progress.” He reiterated that Trump “is very determined. He’s trying to correct something that’s gone on for the last 20 years, but we have a very unfair trading relationship that’s been a tremendous disadvantage to US companies and US workers. And he’s working hard to rebalance that.” On Friday, Trump announced he was increasing tariffs on Chinese products from 25 to 30 percent, effective October 1st, reacting to China’s imposition of retaliatory tariffs on US imports worth about USD 75 billion in response to the recent US tariff hikes on Chinese goods, announced on August 1st.

Source: Kuwait News Agency