See More on Facebook

Diplomacy, Economics

Trump says Mnuchin, USTR to travel to China for trade talks in days

Trump makes overture to China to deescalate trade war talks.


Written by

Updated: April 25, 2018

US President Donald Trump said on Tuesday that Treasury Secretary Steven Mnuchin and US Trade Representative (USTR) Robert Lighthizer will travel to China in a few days for trade talks.

“In fact, we’re having Secretary Mnuchin and a couple of other folks heading over to — Bob Lighthizer — heading over to China,” Trump said at a press conference with visiting French President Emmanuel Macron at the White House.

“They (Chinese officials) came here, as you know, last week. And we’re having very substantive discussions on trade,” Trump said, referring to bilateral discussions of trade on the sidelines of spring meetings of the International Monetary Fund (IMF) and the World Bank, which concluded here last week.

During the spring meetings, Christine Lagarde, managing director of the IMF, and other financial leaders around the world called on the United States and China to resolve trade tensions through dialogues and rules-based multilateral institutions.

“I believe the trade will work out … hopefully it’ll be good for everybody concerned,” Trump said.

Trump’s remarks came after Mnuchin said Saturday that he was considering a trip to Beijing to discuss trade issues with his Chinese counterparts.

“China has received the information about the US side hoping to come to Beijing for consultations on economic and trade issues and we welcome it,” Chinese Foreign Ministry spokesperson Lu Kang said on Tuesday.

“I want to stress that China-US economic ties are mutually beneficial in nature and have long been delivering tangible benefits to the business communities and consumers of the two countries,” Lu said.

The Trump administration has recently threatened to impose tariffs on up to $150 billion of Chinese imports, while China has vowed to retaliate against US exports if the Trump administration moves forward with the tariffs.

“These problems can be solved through bilateral consultations or within a commonly recognized multilateral framework. However, they can never be solved through unilateral means,” said the Chinese spokesperson.

Unilateralism and trade protectionism will inevitably harm others without benefiting oneself as the global economy is deeply integrated, China’s Foreign Ministry spokesperson Hua Chunying said last week.

Citing a report from the Brookings Institution, Hua said a US-China trade war would result in a loss of more than 2.1 million jobs in 2,700 US counties.



Enjoyed this story? Share it.


China Daily
About the Author: China Daily covers domestic and world news through nine print editions and digital media worldwide.

Eastern Briefings

All you need to know about Asia


Our Eastern Briefings Newsletter presents curated stories from 22 Asian newspapers from South, Southeast and Northeast Asia.

Sign up and stay updated with the latest news.



By providing us with your email address, you agree to our Privacy Policy and Terms of Service.

View Today's Newsletter Here

Diplomacy, Economics

Can Pakistan play a role in Iran-US tensions

An editorial in Dawn newspaper looks at the role that Pakistan might play in the ongoing tensions. Tensions between the US and Iran, particularly in the Gulf, are rising and the situation has sent alarm bells ringing throughout the region. It is in this context that Foreign Minister Shah Mehmood Qureshi said on Tuesday that Pakistan was “closely following the situation” and would take a stand “that best served the national interest”. Pakistan is, of course, in a sensitive position as it has decades-old, deep relations with the US, while it shares a long border with Iran. Moreover, this country’s ties with the Gulf Arabs — particularly the Saudis — who are firmly in the American camp, are also cordial and have a strategic and defence dimension. In case of any hostilities


By Dawn
May 17, 2019

Diplomacy, Economics

Bangladeshis will be richer than Indians by 2030

This according to a new report by Standard Chartered bank. Bangladeshis will be richer than Indians by 2030 as the country’s per capita income will grow nearly four times throughout the 2020s, according to Standard Chartered — in yet another endorsement of its tremendous growth momentum. The per capita income of Bangladesh will rise to $5,734.6 in 2030. India’s will edge up to $5,423.4 after growing less than three times, according to a research note from Madhur Jha, Standard Chartered India’s head of thematic research, and David Mann, the bank’s global chief economist. Last year, Bangladesh’s per capita income stood at $1,599.8 and India’s $1,913.2. The note highlights the economies around the world that are likely to grow the fastest in the 2020s. The threshold for the list is 7 percent, the approximate growth rate at which an economy can double in size every 10 years.


By Daily Star
May 17, 2019

Diplomacy, Economics

China vows action as US moves to blacklist Huawei

Hopes of a trade deal recede as experts fear American companies could face a backlash. China has slammed the United States for putting technology giant Huawei on an export blacklist and said it will take “all necessary measures” to protect the legal rights of Chinese firms. The latest twist in the face-off between the US and China not only suggests that hopes of a trade deal are fast evaporating, but it could also delay the roll-out of 5G networks worldwide. US technology firms could also face a backlash, experts said. China’s Ministry of Commerce said yesterday that it resolutely opposed any coun


By The Straits Times
May 17, 2019

Diplomacy, Economics

Jobless rate hits 19-year high in Korea

Rate rises on back of youth unemployment. South Korea’s job market prolonged its downswing in April, with unemployment reaching its highest point in 19 years, government data showed Wednesday. The increasing pace of job creation also slowed further, especially in the retail and manufacturing sectors and among the economically active 30-40 age group. According to job figures released by Statistics Korea, the total number of jobless people surpassed 1.24 million as of April for the first time since the government started compiling the data in June 1999. The jobless rate stood at 4.4 percent, up 0.3 percentage point from a year earlier and marking the highest for any April since 2000, when Asia’s fourth-largest economy was reeling under the aftermaths of the Asian Financial Crisis. The jobless rate for young adults — those aged between 15 and 29 — also rose to a record-high 11


By The Korea Herald
May 16, 2019

Diplomacy, Economics

Beijing stresses equality in trade talks with Washington

World market confidence dampened by escalation, Chinese state media says. Consultations between China and the United States are not a one-way street, and should be conducted amid a spirit of equality, State Councilor and Foreign Minister Wang Yi said on Monday in Russia. Wang said that it is pointless for one side to blame the other, or even to absolve themselves from responsibility. Wang stressed if one side is trying to place extreme pressure on the other, it will cause a legitimate counterattack. “The measures from us are not only to safeguard China’s own rights, but to protect the basic rules of the current multilateral trading mechanism,” Wang said. Wang made the remark in a joint news conference with his Russian counterpart Sergei Lavrov during his visit to the Black Sea coastal city of Sochi. Experts warned that the rising US tariffs on Ch


By China Daily
May 16, 2019

Diplomacy, Economics

South Korea jobless rate rises to 4.4% in April

Weak job markets and uncertain macroeconomics have contributed to increased unemployment. South Korea’s jobless rate rose to 4.4 percent in April, government data showed Wednesday, in the latest sign of a weak job market amid an economic slowdown in Asia’s fourth-largest economy. The unemployment rate increased 0.3 percentage point from a year earlier, according to the data compiled by Statistics Korea. It also marked the highest level for any April since 2000, when the corresponding figure stood at 4.5 percent. The number of employed people reached 27.03 million in April, an increase of 171,000 from the same month in 2018.


By The Korea Herald
May 15, 2019