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Mnuchin's Deadlocked China Trade Talks Hang Over Pivotal G-20

2019-06-05 10:37:00       source:Bloomberg

June 5, 2019

U.S. Treasury Secretary Steven Mnuchin this weekend will have his first chance to break an impasse in a deepening trade war with China -- if officials from the two countries decide they want to jump-start talks at an international summit in Japan.

Mnuchin is set to meet Chinese central bank Governor Yi Gang during a gathering of G-20 finance ministers from June 7 to 9 in Fukuoka, according to a Treasury department statement on Tuesday.

Even a casual chat between officials of the world’s two largest economies could lay important groundwork for a meeting between Presidents Donald Trump and Xi Jinping, who will be in Japan at the end of the month for the G-20 leaders’ summit. Since trade talks broke off last month, the two countries have escalated their trade war and exchanged increasingly belligerent accusations about who’s to blame for the stalemate.

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