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On the morning of the 26th Sina US Stock Exchange Beijing time, Bloomberg News reported that US Treasury Secretary Nuqin said he was optimistic that the United States could reach an agreement with China, so that the United States would not have to levy tariffs on at least US $50 billion of imported Chinese products as Trump ordered.
"We are having a fruitful dialogue with them," Nuqin said of the ongoing talks with China on Fox News Sunday. "I remain cautiously optimistic about reaching an agreement."
Prior to that, the United States announced that it had reached an agreement with South Korea. According to Nuqin, the agreement set a limit on South Korea's steel exports to the United States.
Trump also instructed Nuqin to come up with a proposal to restrict Chinese companies' investment in Singapore in the United States within 60 days last Thursday, so as to protect the technology of strategic significance in the eyes of the United States. Trump said that he also hoped that the US trade deficit with China could be reduced by 100 billion US dollars.
Nuchin said that the two countries agreed to reduce the US trade deficit to some extent, and tried to "reach consensus on the scale of fair trade, so that the two sides can open markets, reduce tariffs and stop compulsory technology transfer."
One day after Trump announced plans to impose tariffs on Chinese imports, China announced plans to impose tariffs on US imports worth US $3 billion in response to Trump's steel and aluminum tariffs announced earlier this month. The White House then announced the temporary exemption of steel and aluminum tariffs on the European Union and some other countries. Some analysts said that although China has taken moderate actions so far, it is unlikely that more measures will be taken in the future.
Editor in charge: Zhang Yujie SF107
