United States trade officials to visit China soon, Trump says

IMF chief calls on US, China to resolve trade tensions through rules-based multilateral institutions

During a meeting with French President Emmanuel Macron at the White House, Trump stressed his tough stance on reducing the USA trade deficit with China.

An Associated Press report says U.S. Treasury Secretary Steven Mnuchin showed cautious optimism over the weekend that the U.S. and China could settle their differences without a full-blown trade war.

In a speech earlier this month, Chinese president Xi Jinping said his country would open itself wider to foreign companies. The trade action is scheduled to take effect next month after a period of review and comment by USA industries.

"I have a very excellent, as you know, relationship with President Xi [Jinping], and I think that relationship is very important as to what's happening with North Korea", Trump added. "And that'll be good".

Trump has also threatened to target an additional US$100 billion worth of Chinese imports, and Beijing has retaliated by announcing tariffs it will impose on more than US$50 billion worth of goods from the US.

"The president has been very clear on what our objectives are", Mnuchin said.

Trump accuses China of driving up a yawning, $337 billion trade deficit with the United States through unfair trade practices which he believes undermine the American industrial base and workforce.

"They trade with us", the president said.

"China's very serious, and we're very serious", Trump told reporters, adding that Mnuchin would travel to China as part of a delegation requested by Beijing.

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.

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