On being asked about the US-China trade tensions, US Secretary of Treasury Steven T Mnuchin said that US is continuing to make progress on that front.
The 7th India-US Economic and Financial Partnership dialogue held in India, on November 1, would deepen the economic partnership between the two countries, both India and the US said.
"We discussed specific and strategic issues of the two nations. We are working together to promote growth and economic security," Steven T Mnuchin, US Secretary of Treasury said at a press briefing.
Finance minister Nirmala Sitharaman said that the India-US relationship was at an all-time high, especially after Prime Minister Narendra Modi's visit in 2019.
"The two nations have significant business ties. A wide range of discussions were held on multinational and bilateral ties. We also deliberated on steps taken by India for the financial sector," Sitharaman said.
On being asked about the US-China trade tensions, Mnuchin said that US is continuing to make progress on that front.
"We're in discussions for alternatives, so both sides are working hard, under both President Trump (Donald Trump) and President Xi's (Xi Jinping's) direction to conclude the deal," Mnuchin said.
The Asia-Pacific Economic Cooperation summit to be held in November in Chile, where the US and China were hoping to sign an interim trade deal, was cancelled because of a law and order situation in Chile.The US tariffs on Chinese imports such as laptops, toys and electronics kick in on December 15.Get access to India's fastest growing financial subscriptions service Moneycontrol Pro for as little as Rs 599 for first year. Use the code "GETPRO". Moneycontrol Pro offers you all the information you need for wealth creation including actionable investment ideas, independent research and insights & analysis For more information, check out the Moneycontrol website or mobile app.