Currency must be on the agenda, Steven Mnuchin tells China
The US treasury secretary says China needs to identify concrete ‘action items’ to rebalance the two countries' trade relationship before talks to resolve their disputes can resume
Nusa Dua — US treasury secretary Steven Mnuchin said on Friday that he told China’s central bank chief that currency issues needed to be part of any further US-China trade talks, and expressed his concern about the yuan's recent weakness. Mnuchin also said in an interview that China needed to identify concrete "action items" to rebalance the two countries' trade relationship before talks to resolve their disputes can resume. The US treasury chief and People’s Bank of China (PBoC) 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. The two senior officials talked about market fundamentals that have driven the yuan down against the dollar, Mnuchin said, adding: "I think we had a pr...
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