US Treasury Secretary on US, China ties

CNC
Added On June 9, 2017

U.S. Treasury Secretary says that he was very pleased with the direction of U.S.-China economic relations, as the two countries achieved initial results of a 100-day plan to boost economic cooperation.

Speaking at the U.S.-China Business Council annual meeting, Steven Mnuchin hailed the progress made in bilateral economic cooperation.

SOUNDBITE (English): STEVEN MNUCHIN, U.S. Treasury Secretary
"I think we both acknowledge that there are certain things that we want to change that are going to take some period of time, and we want to make sure we're on the same page, we have the same objectives, and we figure out how we execute them through our system and their system. I couldn't be more pleased with the direction of where we're heading."

The U.S. and China have agreed to establish a comprehensive economic dialogue and initiate a 100-day plan to boost bilateral economic cooperation.

Last month, the two sides announced the initial results of the plan, covering agriculture, financial services, investment and energy. Most of the agreements are expected to be implemented by July 16.

Mnuchin said the two sides currently are in the process of planning the first meeting of the comprehensive economic dialogue, most likely in this summer, which could begin discussion of a one-year plan on bilateral economic cooperation.

He also said negotiations on a bilateral investment treaty with China is on the agenda of the Trump administration.