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U.S. Treasury chief sees positive year for economy as China talks loom

Treasury's Mnuchin sees positive U.S. growth as China talks loom

9/9/2019 5:21:00 PM

Treasury's Mnuchin sees positive U.S. growth as China talks loom

U.S. Treasury Secretary Steven Mnuchin on Monday said he did not see the threat ...

3 Min ReadWASHINGTON (Reuters) - U.S. Treasury Secretary Steven Mnuchin on Monday said he did not see the threat of a recession as the Trump administration seeks to revive trade negotiations with China, adding that he expected a positive year ahead for the U.S. economy.

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Speaking on Fox Business Network, Mnuchin said U.S. officials still aimed to “get a good deal” with Beijing as talks between the world’s two largest economies prepare to get under way in the coming weeks.Chinese officials at the vice-minister level will travel to Washington in mid-September, followed by meetings in Washington between Chinese Vice Premier Liu He, Mnuchin, and U.S. Trade Representative Robert Lighthizer.

“We have a document, we’ve made a lot of progress, they’re coming here, I take that as a sign of good faith that they want to continue to negotiate,” Mnuchin said.“And we’re prepared to negotiate. If we can get a good deal, a deal that’s good for us, we’ll sign it. If not the president is perfectly fine with continuing the tariffs.”

He added that the United States and China, which have been embroiled in a bitter trade war for more than a year, have a “conceptual agreement,” on how to enforce the terms of any deal.The United States for more than two years has been seeking sweeping changes to China’s policies and practices on intellectual property protection, the forced transfer of U.S. technology to Chinese firms, American companies’ access to China’s markets and industrial subsidies.

FILE PHOTO: U.S. Treasury Secretary Steven Mnuchin walks to a working breakfast at the G7 Summit in Biarritz, France, August 25, 2019. Erin Schaff/Pool via REUTERSMnuchin told reporters outside the White House that Yi Gang, the People’s Bank of China’s governor, would attend the October meetings and the two sides would discuss “currency and currency manipulation.”

Treasury last month formally declared China a currency manipulator under a 1988 trade law, a step that would require specific negotiations with an offending country.Mnuchin said he saw no signs of a U.S. recession approaching, adding that markets have an expectation the Federal Reserve will cut interest rates in the coming months.

Reporting by Susan Heavey and David Lawder; Editing by Kevin Liffey and Paul Simao Read more: Reuters Top News »

Obama says he worries about Trump's efforts to 'kneecap' Postal Service

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China might use an important weapon to fight trumps bullying trade war: dump all or part of the USA debts? China is USA biggest debtor and take back that much US dollars will make the Wall Street crash thus make USA recession come faster teaching trump a lesson and fail in 2020! The US looks like it's doing fine only because Trump is increasing debt and pointing a gun to the Fed to lower rates. That's called overheating the economy. Good luck

Anyone believe this Cheshire Cat? Could he under Trump see the negative? A blind man with visions His thoughts mean nothing. They lie and you repeat = propaganda It’s so odd to hinge growth on mere talks... Munchkin! Trump is a professional conman and a pathological liar. Only fools cut deals with Donald Trump. China should stay away from Trump's America.

Change the present rigged economy model of this world! This planet is an endangered species already! Also effects EU and Uk

China will not tolerate attempts to separate Hong Kong from China: state mediaHong Kong is an inseparable part of China and any form of secessionism 'wil... China is a shithole. Mais ça fait 100 ans que HongKong est séparé de la Chine HongKongProtesters Isn't CCP the ultimate big boss to separate China?

Mnuchin says U.S-China talks show 'good faith' by BeijingTreasury Secretary Steven Mnuchin said Monday he takes it as a sign of 'good faith' by China that officials will restart trade talks with their... We'll wait to 'read' the final agreement ourselves........otherwise it's just more BS......stevenmnuchin1 Trump will lose. Low cost country always wins in trade wars. High cost country always loses. It is consumers who buy the stuff. Most buy low cost stuff. Filthy rich like Trump& his cronys do not care about cost. They are few but destructive like Trump! Wrong typing. It is ‘talk shows’ :-)

Apple, Foxconn say they overly relied on temporary workers in ChinaApple Inc and manufacturing partner Foxconn Technology Co Ltd on Monday rebutted... This is not a surprise plus foxconn workers commiting suicide...they had to put nets on the sides of their buildings to prevent...smh Overly relied? Or took extreme advantage of cheap labor and costs? Commonly referred to as Karma. There's an old saying, Not everything good lasts.

‘Hobbs & Shaw’ Stalls Out as China Box Office Slumps“Fast & Furious Presents: Hobbs & Shaw” has essentially stalled out in its third weekend in China, earning just $10 million despite being up against one of the weakest lineups of the year. … Because they figured out..... 😉 Probably tariffs...

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As China trade war escalates, 2020 U.S. Democrats scramble over their messageThe growing economic fallout from President Donald Trump’s drawn-out trade war w... Yeah they don't know their head from their rear. They’re NOT scrambling! True Dems know their stance and have never scrambled. C’mon 🤦‍♀️ Not really, just let the 'Donald' keep his 'tweeter' finger going.