Sunday, May 20, 2018

News Alert: Treasury secretary: U.S. is 'putting the trade war on hold' with China and administration will delay tariffs

Treasury Secretary Steven Mnuchin said that the United States and China are stepping back from a possible trade war after two days of talks that produced "meaningful progress." Despite not getting China to agree to trim its overall trade surplus with America by a specific amount, Mnuchin said the U.S. team did get a number of commitments on a "framework" for reducing the deficit over time, including big increases in purchases of farm products and a doubling of purchases of U.S. energy products.
 
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News Alert May 20, 12:25 PM
 
 
Treasury secretary: U.S. is 'putting the trade war on hold' with China and administration will delay tariffs

Treasury Secretary Steven Mnuchin said that the United States and China are stepping back from a possible trade war after two days of talks that produced "meaningful progress."

Despite not getting China to agree to trim its overall trade surplus with America by a specific amount, Mnuchin said the U.S. team did get a number of commitments on a "framework" for reducing the deficit over time, including big increases in purchases of farm products and a doubling of purchases of U.S. energy products.

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