The Trump administration is urging China to lower tariffs on cars and open its market to U.S. financial services as part of talks to resolve a rise in trade tensions that has shaken global markets, according to a person familiar with the matter.Treasury Secretary Steven Mnuchin called China’s Liu He to congratulate Liu on his appointment this month as vice premier in charge of economic policy, said the person, who spoke on condition of anonymity because the discussions aren’t public. The two discussed the trade deficit between the two countries and committed to finding a mutually agreeable way to reduce the gap, the person said, adding they have exchanged correspondence.Meanwhile, one of President Donald Trump’s senior trade advisers says the president is seeking a nearly one-third narrowing of the U.S. trade deficit with China.
Source: U.S. Pushes China on Cars and Finance in Tariff Talks – Bloomberg
US Futures Higher After Strong Start in Europe
This article is for general information purposes only. It is not investment advice or a solution to buy or sell securities. Opinions are the authors; not necessarily that of OANDA Corporation or any of its affiliates, subsidiaries, officers or directors. Leveraged trading is high risk and not suitable for all. You could lose all of your deposited funds.
Craig Erlam
Latest posts by Craig Erlam (see all)
- Fed Speakers and Earnings in Focus - 04/19/2018
- GBP/USD – Are We Nearing a Top? (Video) - 04/18/2018
- Lower Inflation Poses Challenges For Central Banks - 04/18/2018