THE United States plans to resolve its trade issues with Europe, Canada and Mexico before shifting its focus to China, says US Treasury Secretary Steven Mnuchin.
"We've put [Washington's foreign trade
objectives] in three categories: the first was really [the North
American Free Trade Agreement, or NAFTA]; the second is dealing with the
EU, which we are making progress on; and the third is China," Mr
Mnuchin told CNBC.
His comments echoed the apparent sentiment of President Donald Trump,
who has said that now was "not the right time to talk" to China,
according to Reuters.
It appears that the US-China trade war will not be resolved in the short
term, with Mr Mnuchin saying issues like intellectual property and
market access for US companies are "not issues that are going to be
resolved in one or two meetings".
"It can't just be talk, it has to be follow-through as well. They have
to open their markets. As the President said, it's not just about buying
more soybeans, but we're happy for them to buy more soybeans. This is
about structural changes that create fair market access," said Mr
Mnuchin.
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