Mnuchin to visit China to discuss trade issues


During a meeting with French President Emmanuel Macron at the White House, Trump stressed his tough stance on reducing the United States trade deficit with China.

U.S. Treasury Secretary Steven Mnuchin will depart for China to negotiate over U.S. trade disputes within days, President Donald Trump said. But he adds, "I think we've got a very good chance of making a deal". They came here recently, and we're going there.

Without tariffs on Chinese steel wheels and wheel assemblies, Americana - one of the last USA companies making steel wheels for RVs - will have no choice but to reduce production and staffing, Pizzola said.

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Trump has authorised tariffs on about US$50 billion (S$66 billion) in Chinese exports in response to China's alleged theft of American intellectual property. Beijing is threatening to take countermeasures. Citing a report from the Brookings Institution, Hua said a US-China trade war would result in a loss of more than 2.1 million jobs in 2,700 US counties.

The Trump administration has proposed tariffs on more than 1,300 Chinese products in response to complaints about China's acquisition of USA intellectual property.

In a speech earlier this month, Chinese president Xi Jinping said his country would open itself wider to foreign companies.