Truce in the trade war? Mnuchin goes to China to negotiate

The US Treasury Secretary, Steven Mnuchin, he said that will probably visit China soon to pursue trade negotiations with the Chinese negotiators because, in his opinion, "there is still a lot of work to be done".

At a congressional hearing in the United States, Mnuchin did not tell legislators the right time for future negotiations, but He badured that the recent talks with the Chinese authorities in Washington were "fruitful".

"My expectation is that We will go to Beijing in a moment in the near future continue these discussions, "he said.We will continue the discussions. There is still a lot of work to be done. "

US President Donald Trump rejected the failure of trade talks with China, despite the imposition of new tariffs on imports from the Asian country and the fact that both sides are preparing for a new series of taxes. This has shaken world markets in recent days.

However, Trump somewhat softened his tone on Tuesday, highlighting his relationship with his Chinese counterpart, Xi Jinping, asking Beijing to buy US agricultural products and promising to quickly sign an agreement.

Xi denies the clash of civilizations

Meanwhile, at the opening of a conference on the dialogue of Asian civilizations in Beijing, Xi denied the existence of a "clash of civilizations" because of tensions between the Asian giant and the United States, especially the trade war.

"To think that their own race and culture is superior and to insist on transforming or even replacing other civilizations is stupid (…) and disastrous in practice," he said. Xinhua to the agent

"There is no conflict between different civilizations, just look to appreciate the beauty of all civilizations," he added without mentioning the United States.

Xi's words are a response to the April statements of a senior North American State Department official, Kiron Skinner, who ensured that the rivalry with China was "a fight against a civilization". and a really different ideology ". This is the first time that the United States is facing "a great rival that is not white," he added in a forum on security issues.

Risk for the global economy

The Association of German Industry (BDI) warned today that ongoing trade disputes between the US and China are jeopardizing the global economy.

BDI Managing Director Joachim Lang said that "the more difficult the trade dispute, the greater its impact on the global economy"And pointed out that trade disputes "will directly affect" European companies They have production facilities in these two countries.

Holger Bingmann, President of the German Association of Wholesale Trade, Foreign trade and servicesHe also warned that trade disputes would be "extremely dangerous for the global economy".

"Many jobs and our economic prosperity depend on access of German companies to markets around the world"Bingmann said." That's why the main The political priority is to work to restore a strong and reliable framework for global trade goods and services, "he said. Xinhua in Bingmann.

Galina Kolev, an expert in foreign trade at the German Economic Institute (IW), said that "if Germany's first and third trading partner punished each other for customs duties, this can not leave the German export economy unscathed"

"Business dispute baffles investors and hovers like a dark cloud over the global economy"Kolev said.

This week, IW has trimmed its global economic growth forecast this year and is forecasting global economic growth of only 2.75% by 2019, more than half a percentage point. less than in 2018.