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Last Updated : Nov 01, 2019 09:09 PM IST | Source: Moneycontrol.com

US Secretary of Treasury says progress continues to be made on US-China trade deal

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.

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"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.

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First Published on Nov 1, 2019 08:43 pm
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