The US Treasury is holding "good" economic talks with China
05/5/2018 12:00 am
[rtl]Asian officials stress the importance of resisting protectionist
capitals / agencies
The US Treasury Secretary said his trade delegation in China was in "very good" talks. On Thursday, an American delegation led by Treasury Secretary Stephen Menuchin began his visit to Beijing to end the day to discuss economic and trade issues with Vice Premier Liu Hu.
"I am very happy to be here," Manuchen told Reuters on Friday in response to a question on whether he expected a development in the talks.
"Our great financial team in China is trying to negotiate a fair trade for all," US President Donald Trump wrote in a tweet on social networking site Twitter yesterday.
"I look forward to not being far away with the Chinese president in the future and we will always have a good relationship," Trump said. A trade dispute China and the United States have entered into a trade dispute last year, with Trump accusing Beijing of commercial manipulation with it, and then decide to apply tariffs on US imports from there. China responded by applying tariffs on imports from the United States.
A Chinese official said before the talks began that they must be held in a way that guarantees equal and reciprocal benefits, noting that Beijing will not succumb to any trade threats from Washington.
Meanwhile, finance ministers and central bankers of China, Japan and South Korea on Friday stressed the need to resist "protectionism in all its forms" and agreed to ensure "an open and rule-based multilateral trading and investment system." Economic developments The three North East Asian nations met on the sidelines of the 51st annual meeting of the Asian Development Bank (ADB) in the Philippine capital Manila to discuss ongoing economic developments and potential risks in financial markets and basic economic conditions. "They remain vigilant about the downside risks to the recovery in the global economy," senior financial officials said in a joint statement issued at the end of the tripartite meeting.
"We have noted the risks posed by rising trade protectionism, the more pronounced tightening of global financial conditions and uncertainty about geopolitical tensions," they added.
Senior officials also stressed the importance of resisting protectionism in all its forms, ensuring an open and rule-based multilateral trading and trading system, enhancing resilience to external shocks and agreeing to further improve communication and coordination between China, Japan and South Korea.
The meeting of finance ministers and central bank governors of the three countries serves as an effective forum for improving policy dialogue and coordination, and the finance ministers decided to meet again at the Fiji Club in May next year.[/rtl]