US Treasury Secretary Steven Mnuchin plans to speak privately with China's central bank governor about trade on the sidelines of G20 in southern Japan
China's Central Bank Governor Yi Gang shakes hands with US Treasury Secretary Steven Mnuchin during the G20 Finance Ministers and Central Bank Governors Meeting in Fukuoka, Japan, June 8, 2019.
"This will be a one-on-one with Gov. Yi to talk alone about the trade issues," Mnuchin told reporters in the Japanese city of Fukuoka. But he added, "I would expect the main progress will be at the G-20 meetings of the presidents." Trump has also complained repeatedly about America's huge trade deficit with China — a record $379 billion last year.
Asked if other financial leaders attending the meetings in Fukuoka were raising the issue, Mnuchin said no."I'm hearing concerns if we continue on this path there could be issues. There will be winners and losers," he said. The agenda for the G-20 talks in Fukuoka on Saturday were mainly concerned with reforms of tax policies, combatting money laundering and cyber crimes, and innovations in financial technologies.As trade conflicts percolate and leaders come and go, the finance chiefs have carried on chipping away at financial reforms and other perennial issues.
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