Mnuchin calls on China, EU to make tariff concessions

Mnuchin arrived in the Argentine capital at the end of a week in which US President Donald Trump has ramped up his inflammatory remarks and threats with regard global trade.

Mnuchin calls on China, EU to make tariff concessions

World Bulletin / News Desk

US Treasury Secretary Steven Mnuchin said on Saturday he will be pushing China and the EU to agree to a more "balanced" relationship on trade when he meets with finance ministers at the Group of 20 convention in Buenos Aires.

Trump described China, the EU and Russia as trade "foes" and threatened to hammer the entire $500 billion in goods the US imports from China with punitive tariffs.

"It is definitely a realistic possibility so I wouldn't minimize the possibility. We've been very clear with our objectives," Mnuchin told reporters ahead of the start of the two-day G20 summit amongst finance ministers and central bankers from the world's 20 leading economies.

"We share a desire to have a more balanced relationship and the balanced relationship is by us selling more goods (to China)."

The US trade in goods deficit with China stood at almost $376 billion in 2017.

Last Mod: 22 Temmuz 2018, 17:23
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