Mnuchin will head to China for trade talks

US Treasury Secretary Weighs China Visit Amid Anti-Protectionist Sentiment

Mnuchin wouldn't tell reporters how close the US was to resolving the various trade disputes, but he did say that progress has been made.

U.S. Treasury Secretary Steven Mnuchin will depart for China to negotiate over U.S. trade disputes within days, President Donald Trump said.

"We've put on very substantial tariffs, and that will continue unless we make a trade deal".

Both countries have proposed tariffs on the other, after the Trump administration's "Section 301" investigation into China's business practices.

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US Treasury Secretary Steve Mnuchin has expressed interest in visiting Beijing for further trade negotiations, an announcement that was welcomed by the Chinese Ministry of Commerce. While he's met with Chinese counterparts in Washington and during G-20 meetings in Europe, Mnuchin hasn't traveled to meet them on their home turf.

If a real United States trade war ensues, then the economic growth prospects of China could negatively be impacted in a significant way.

In a speech earlier this month, Chinese president Xi Jinping said his country would open itself wider to foreign companies.

Americana Development and the Champion Safe Co. of Provo, Utah, said in comments to the Office of U.S. Trade Representative that their cost for steel has risen by about 25%.

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