Trade trace between China and the US appears imminent

US Secretary of State, Steven Mnuchin.

Negotiations between China and the US to progressively address the ongoing trade and tariff situation between them were stepped up a notch with the announcement that they have agreed to establish “enforcement offices”.

Generally seen as bilateral enforcement mechanisms to, at the very least, re-establish trade trust between the two countries, establishing the offices comes with the hoped-for ideal of abolishing the current tariffs China and the US have imposed on one another.

Commenting on the general mood after the recent set of negotiations, US Treasury General, Steven Mnuchin, said it was “productive”.

He was especially chipper about “a call” he had with Líu He, China’s Vice Premier.

Heading into another set of discussions earlier today, Mnuchin said it was “agreed that both sides would establish enforcement offices that would deal with ongoing matters”.

Asked about the possibility that tariffs on $250 billion of Chinese goods would soon be lifted, Mnuchin was non-committal.

But his boss, US President Donald Trump, told journalists that a decisive deal was imminent.

It remains to be seen, though, whether China, thus far reluctant to roll out reforms of its ethical business environment, will un-dig its heels.

– Eugene Goddard

 


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