US Treasury Secretary Expects Significant Progress in China Talks

Treasury Secretary Steven Mnuchin said Tuesday the U.S. expects to make “significant progress” in China trade war negotiations this week.

“The critical issues that we’ve talked about is market access, making sure there aren’t forced joint ventures, not forced transfer of technology, and that we have a mechanism that when we’ve reached an agreement we can monitor this agreement and they’ll live up to it,” Mnuchin said in an interview with Fox Business. “I expect we’ll make significant progress this week on those issues.”

Chinese representatives are due to meet with a group of White House officials Wednesday and Thursday for the talks. U.S. Trade Representative Robert Lighthizer will lead the discussions, which represent the next step in negotiations begun after the U.S. and China agreed to a 90-day truce in their trade war. The tariff cease-fire expires March 2.

Mnuchin was also asked about the criminal charges the U.S. filed against Chinese telecommunications giant Huawei, but he said that is a separate issue.

“Those are not part of trade discussions, forced technology issues are. … Any issues as it relates to violations of U.S. law or U.S. sanctions are going through a separate track, which is the Justice Department,” Mnuchin said.

“We are focused on what are unfair economic practices.”

via CNBC

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Alfonso Esparza

Alfonso Esparza

Senior Currency Analyst at Market Pulse
Alfonso Esparza specializes in macro forex strategies for North American and major currency pairs. Upon joining OANDA in 2007, Alfonso Esparza established the MarketPulseFX blog and he has since written extensively about central banks and global economic and political trends. Alfonso has also worked as a professional currency trader focused on North America and emerging markets. He has been published by The MarketWatch, Reuters, the Wall Street Journal and The Globe and Mail, and he also appears regularly as a guest commentator on networks including Bloomberg and BNN. He holds a finance degree from the Monterrey Institute of Technology and Higher Education (ITESM) and an MBA with a specialization on financial engineering and marketing from the University of Toronto.
Alfonso Esparza