Take the pledge to vote

For a better tommorow#AajSawaroApnaKal
  • I agree to receive emails from News18

  • I promise to vote in this year's elections no matter what the odds are.
  • Please check above checkbox.

    SUBMIT

Thank you for
taking the pledge

Vote responsibly as each vote counts
and makes a diffrence

Disclaimer:

Issued in public interest by HDFC Life. HDFC Life Insurance Company Limited (Formerly HDFC Standard Life Insurance Company Limited) (“HDFC Life”). CIN: L65110MH2000PLC128245, IRDAI Reg. No. 101 . The name/letters "HDFC" in the name/logo of the company belongs to Housing Development Finance Corporation Limited ("HDFC Limited") and is used by HDFC Life under an agreement entered into with HDFC Limited. ARN EU/04/19/13618
LIVE TV DownloadNews18 App
News18 English
News18 » Business
1-min read

US Leaves Doors Open for Trade Talks with China at Trump-Xi Summit

Steven Mnuchin said the United States and China were about 90 percent of the way toward reaching 'a historic agreement' before China backtracked on certain commitments.

Reuters

Updated:June 8, 2019, 12:46 PM IST
facebookTwitterskypewhatsapp
US Leaves Doors Open for Trade Talks with China at Trump-Xi Summit
File photo of US President Donald Trump and Chinese President Xi Jinping. File Photo: AP)

Fukuoka (Japan): US Treasury Secretary Steven Mnuchin said on Saturday he would discuss trade issues with People's Bank of China Governor Yi Gang, but the main progress in the US-China trade dispute would take place later this month at a meeting between President Donald Trump and Chinese President Xi Jinping.

Mnuchin told reporters on the sidelines of the G20 finance leaders meeting in Japan that the Trump-Xi meeting was the "next important meeting" in the trade dispute.

The Treasury chief likened the meeting, unconfirmed by China, to a Trump-Xi meeting last December in Buenos Aires, which paved the way for five months of negotiations to try to resolve the issue.

Mnuchin said he did not have specific goals for his discussions on Sunday with Yi, a key member of China's trade negotiating team. He said the two finance leaders would discuss economic and finance issues as part of their normal G20 interactions and also discuss trade issues, but no announcement was expected.

"This is not a negotiating meeting," Mnuchin said.

Mnuchin said the United States and China were about 90 percent of the way toward reaching "a historic agreement" before China backtracked on certain commitments. He said that if China wants to resume the negotiations on the basis of the texts prior to an early May breakdown of talks, the U.S. side is ready to engage.

"If we can get the right agreement, that's great. If we can't get the right agreement, we will proceed with tariffs," Mnuchin said.

The Trump administration is taking steps to impose 25% tariffs on the remaining $300 billion worth of Chinese imports so far untouched by the trade war between the world's two largest economies. These tariffs could be ready for activation around the end of June, when the Osaka G20 summit take place.

Mnuchin said that the United States wants free, fair and balanced trade with China, in part to close a gaping US trade deficit with China.

"If we can't have that, the end result will be that my expectation is that many companies will move their production out of China to other locations," due to tariffs, Mnuchin said.

Get the best of News18 delivered to your inbox - subscribe to News18 Daybreak. Follow News18.com on Twitter, Instagram, Facebook, Telegram, TikTok and on YouTube, and stay in the know with what's happening in the world around you – in real time.

Read full article
Next Story
Next Story

Also Watch

facebookTwitterskypewhatsapp
Most Active
Company Price Change %Gain
Yes Bank 51.40 8.44
Reliance 1,416.35 1.42
Indiabulls Hsg 231.20 16.80
Zee Entertain 250.20 -5.39
Maruti Suzuki 7,302.30 2.50
Company Price Change %Gain
HDFC AMC 2,882.20 6.11
Yes Bank 51.40 8.44
Indiabulls Hsg 231.50 17.42
Reliance 1,415.30 1.37
IRCTC 779.20 7.57
Top Gainers
Company Price Change %Gain
Yes Bank 51.40 8.44
Coal India 205.95 3.28
Adani Ports 421.70 3.07
Grasim 746.50 3.03
Maruti Suzuki 7,302.30 2.50
Company Price Change %Gain
Yes Bank 51.40 8.44
Coal India 205.95 3.31
Maruti Suzuki 7,318.15 2.74
Power Grid Corp 202.55 2.45
NTPC 121.00 2.02
Top Losers
Company Price Change %Gain
Zee Entertain 250.20 -5.39
Tata Motors 136.85 -1.90
Eicher Motors 20,275.90 -1.05
Bajaj Auto 3,087.05 -0.79
Hindalco 187.40 -0.74
Company Price Change %Gain
Tata Motors 136.70 -1.05
Bajaj Auto 3,087.75 -0.73
Bharti Airtel 383.25 -0.65
ICICI Bank 437.75 -0.64
Axis Bank 709.20 -0.19

Live TV

Countdown To Elections Results
To Assembly Elections 2018 Results