TIL Desk/Business/Washington/ US Treasury Secretary Steven Mnuchin will lead trade talks with China due to take place today and tomorrow as the countries try to head off a trade war. “These meetings are a continuation of the talks held in Beijing two weeks ago and will focus on re-balancing the United States-China bilateral economic relationship,” the White House said in a statement.
The US has threatened to impose 25 per cent punitive duties on up to USD 150 billion in Chinese goods while China has targeted USD 50 billion in American exports. China’s Vice Premier Liu He leads the trade delegation from Beijing. US Commerce Secretary Wilbur Ross and US Trade Representative Robert Lighthizer also will participate.
The talks, part of a busy week of trade negotiations and tight deadlines, have become enmeshed in political intrigue after an adviser to President Donald Trump who is considered a hardliner on China was left out.
Peter Navarro, who was seen as having a more dominant role with the departure of White House economic advisor Gary Cohn over trade issues, was left off the list, although the statement said “Additional senior Administration Officials will also participate.” According to press reports, Navarro sparred with Mnuchin over his handling of the China talks and was barred from attending the meetings this week.
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