With Mexico deal done, US urges China to resume trade talks
- US Treasury Secretary Steven Mnuchin plans private discussion with head of China’s central bank on sidelines of G20 meeting in Japan
- No further trade talks expected in Washington or Beijing before Trump and Xi meet at Osaka summit later this month
One down, still others to go. US President Donald Trump claimed a victory after Washington and Mexico agreed on measures to stem the flow of Central American migrants into the United States.
Trump called off plans to impose a 5 per cent tax on Mexican exports, and US Treasury Secretary Steven Mnuchin, speaking to reporters in Fukuoka on Saturday on the sidelines of a meeting of financial leaders of the Group of 20 major economies, urged China to follow suit and return to stalled negotiations.
Mnuchin said he planned to have a private conversation with the head of China’s central bank, Yi Gang. In a G20 group meeting later in the day, the two were seen exchanging friendly remarks, but there were no fresh signs Beijing is ready to compromise in the dispute over trade and technology.
“From our perspective of where we are now, it is a result of them backtracking on significant commitments,” Mnuchin said. “I don’t think it’s a breakdown in trust or good or bad faith … If they want to come back and complete the deal on the terms we were negotiating, that would be great.”
Mnuchin said he had no direct message to give to Yi, who has taken part in the 11 rounds of talks so far on resolving the dispute between the world’s two largest economies over technology and trade.