U.S., China Say They Are Open to Talks Amid Escalating Trade War
- Mnuchin demands Beijing commit to deeper economic reforms
- Trump is threatening to add more China tariffs if no progress
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The U.S. and China signaled they were open to resuming negotiations over trade after days of exchanging retaliatory threats, though Treasury Secretary Steven Mnuchin said Beijing must commit to deeper economic reforms.
High-level discussions over trade between the world’s two largest economies have stalled since June after a month of talks led by Mnuchin and Commerce Secretary Wilbur Ross with Chinese Vice Premier Liu He. Mnuchin told the House Financial Services Committee on Thursday that he and administration officials are “available” for negotiations, as he called U.S. tariffs imposed on China a “modest” step aimed at leveling the playing the field.