US Without a Precise Date to Resume Business with China

WASHINGTON, May 23 (NNN-Prensa Latina) The United States lacks a short-term plan to send a delegation to China to resume trade talks, said US Secretary of the Treasury, Steven Mnuchin here Wednesday.

Mnuchin made his statement before appearing at the US Chamber of Representatives Financial Services Commission.

He had assured a week ago that he would travel to Beijing at any moment to continue the dialogue between US and China, saying there is still quite a lot of work to do in a conference before the US Congress, talking about an agreement that would end a commercial war between the world’s two biggest economies.

However, Mnuchin did not offer precise details to the legislators on when the new talks will take place, which would follow those held in this capital on May 9 and 10.

He reiterated that the last bilateral discussions were fruitful, although they were marked by a new US tariff rise, from 10 to 25 percent on Chinese products valued at 200 billion dollars.

Such a measure, by decision of US President Donald Trump, was surprising, because the two nations had shown signs of approaching one another to a trade agreement, and caused volatility in the markets.

Meanwhile, China announced on May 13 that it would make increases of 10, 20 and 25 percent on the taxes it applies to US imports, in reciprocity due to the unilateral action of the US President.

The Chinese State Council’s Custom Tax Commission said that such a movement would equal to 60 billion dollars, involving 5,000 products, and that it will enter in force for June 1st, 2019.

NNN-Prensa Latina