SMM6, 26th: according to CNBC reports, US Treasury Secretary Stephen Mnuchin told CNBC, that the United States and China are close to reaching a trade agreement and that the negotiations have been completed 90 per cent.
Trump will meet with Chinese President Xi Jinping at the G20 summit in Osaka, Japan, on Saturday, he said. He believes President Trump and Chinese President Xi Jinping will make progress on stalled trade talks. "the message we want to hear is that they want to get back to the negotiating table and continue to negotiate because I think the Chinese economy and the US economy can achieve balanced trade and continue this relationship."
He added that the Sino-US trade talks were expected to reach an agreement by the end of the year, but "the right efforts need to be made."
Dow Jones index futures rose after Mnuchin's comments.
The hearing that the US government plans to impose tariffs on about $300 billion worth of Chinese exports to the United States entered its last day on the 25th. Representatives of a number of US companies have called on the government not to impose tariffs on Chinese products, arguing that tariffs will hurt the interests of businesses and consumers and will not help protect US intellectual property rights and jobs. At the hearing on the same day, more than 40 representatives from the US clothing, shoes and socks, sports and fitness equipment, mobile electronic equipment, toiletries, electrical accessories and other industries generally believed that imposing tariffs on Chinese goods would damage American enterprises and consumers, and that it would be difficult for Chinese suppliers to transfer the supply chain because of their price and capacity advantages. "View detail
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