US-China trade talk nearing final talks, says US Treasury’s Mnuchin

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US-China trade talk nearing final talks, says US Treasury’s Mnuchin

On Saturday, the 13th of April 2019, the United States Treasury Secretary, Steven Mnuchin said that the two largest economies of the world were ‘very close to the final round of negotiations’, expressing optimism that a trade pact with China could reach way beyond previous attempts to open up Chinese markets for US Companies.

Over the sidelines of the World Bank and the International Monetary Fund’s Spring Meeting, Mnuchin also said to the reporters that he alongside US Trade Representative, Robert Lighthizer would hold two video calls next week with Chinese Vice Premiere Liu He.

Adding that the two nations might have been closing in to reach a settlement to resolve their deep differences after signing a memorandum of understanding including six critical issues such as intellectual property rights and independence of US Companies conducting business in China last month, Mnuchin said, “I think we’re hopeful that we’re getting close to the final round of concluding issues”.

While being asked whether a Sino-US trade deal could go beyond the accord signed in the 2016 Bilateral Investment Treaty Negotiations, expressing sheer optimism, Mnuchin replied, “We are making progress, I want to be careful.

This is not a public negotiation ... this is a very, very detailed agreement covering issues that have never been dealt with before. This is way beyond anything that looked like a bilateral investment treaty”.