Don’t miss the latest developments in business and finance.

Interview: U.S.-China trade talks must cover currency, U.S. Treasury chief says

Image
Reuters NUSA DUA, Indonesia
Last Updated : Oct 12 2018 | 2:15 PM IST

NUSA DUA, Indonesia (Reuters) - U.S. Treasury Secretary Steven Mnuchin said on Friday that he told China's central bank chief that currency issues need to be part of any further U.S.-China trade talks and expressed his concerns about the yuan's recent weakness.

Mnuchin also told Reuters in an interview that China needs to identify concrete "action items" to rebalance the two countries' trade relationship.

The U.S. Treasury chief and People's Bank of China Governor Yi Gang extensively discussed currency issues on the sidelines of the International Monetary Fund and World Bank annual meetings on the Indonesian resort island of Bali.

"I expressed my concern about the weakness in the (yuan) currency and that as part of any trade discussions, currency has to be part of the discussion," Mnuchin said of the meeting.

(Reporting by David Lawder; Editing by Simon Cameron-Moore)

Disclaimer: No Business Standard Journalist was involved in creation of this content

More From This Section

First Published: Oct 12 2018 | 2:08 PM IST

Next Story