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US Treasury Secretary Steven Mnuchin calls for equitable opportunities for his country in trade with China and the EU. This weekend, finance ministers and central bankers of the G20 countries meet in Buenos Aires
(afp) The US government has "the desire to" A more balanced relationship "and that would require more US products to be imported, said Saturday the US Treasury Secretary Steven Mnuchin. The finance ministers and central bankers of the 20 largest industrialized and emerging (G20) countries are meeting on Saturday and Sunday in Buenos Aires, the capital of Argentina. Current trade conflicts are at the top of the agenda.
US Treasury Secretary Steven Mnuchin told his colleagues at the G20 summit of his government's desire to establish a "more balanced relationship" in the United States. trade. (AP Photo / Victor R. Caivano)
China must open its markets in the United States, "so that we can compete fairly and increase our exports," demanded the US Treasury Secretary. This is "a huge opportunity" not only for the United States, but also for the People's Republic.
If China does not move, the threat of US President Donald Trump is to pay all US imports from the People's Republic with punitive tariffs prove, but "certainly a realistic possibility," warned Mnuchin.
US imports from China amount to about $ 500 billion. The US trade deficit with China in 2017 was just under $ 376 billion. Trump has repeatedly strongly criticized this imbalance
Spiral of punitive tariffs and retaliation
In March, Trump imposed punitive tariffs on imports of steel and aluminum. Dollars in place. China has imposed retaliatory rights of the same magnitude. The US government then announced punitive tariffs on 200 billion dollars of Chinese exports from September
A week ago, Trump described not only China but also the EU as an "enemy "of trade policy. Mr. Mnuchin told Buenos Aires that if the European Union wants to sign a free trade agreement with the United States, it must make significant concessions: "If Europe believes in free trade, we are ready to negotiate a trade agreement without customs duties and without subsidies to sign, "said Mnuchin. However, the "three" conditions should be met.
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