UPDATED 9:40 AM PT — Fri. Oct. 12, 2018
Treasury Secretary Steve Mnuchin said any trade talks between the U.S. and China must include discussions about currency issues.
While speaking to reporters Friday at the International Monetary Fund meeting in Indonesia, the secretary said he had a constructive conversation with the head of China’s central bank..
Mnuchin said he expressed his concerns over the weakness of Asian nation’s currency and reiterated the U.S. push for market reforms as well as opening up trade between the two countries.
“A lot of these issues have been the same issues we have been dealing with for a long period of time,” he stated. “We’ve been very clear on the actions that we’d like them to take and we believe that would be good for our companies, for our workers and for their markets — opening up and reforming their markets will be good for their economy.”
President Trump has taken a hard line stance against China, vowing to increase tariffs until a fair trade agreement can be reached.
Meanwhile, China is ramping up exports before the Trump administration’s tariffs take full effect.