Economics
U.S. Pushes China on Cars and Finance in Tariff Talks
- Trump seeking $100-billion reduction in trade gap with China
- Analyst sees a ‘huge amount of uncertainty’ over next steps
U.S. Tariffs on China to Target Tech, White House's Navarro Says
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The Trump administration is urging China to lower tariffs on cars and open its market to U.S. financial services as part of talks to resolve a rise in trade tensions that has shaken global markets, according to a person familiar with the matter.
Treasury Secretary Steven Mnuchin called China’s Liu He to congratulate Liu on his appointment this month as vice premier in charge of economic policy, said the person, who spoke on condition of anonymity because the discussions aren’t public. The two discussed the trade deficit between the two countries and committed to finding a mutually agreeable way to reduce the gap, the person said, adding they have exchanged correspondence.