- Title: China, U.S. set for second day of high-level trade talks
- Date: 11th October 2019
- Summary: WASHINGTON, D.C., UNITED STATES (OCTOBER 11, 2019) (REUTERS) ***WARNING CONTAINS FLASH PHOTOGRAPHY*** CHINA'S VICE PREMIER LIU HE BEING GREETED BY U.S. TREASURY SECRETARY STEVE MNUCHIN AND U.S. TRADE REPRESENTATIVE ROBERT LIGHTHIZER BEFORE HEADING INTO MEETING
- Embargoed: 25th October 2019 14:14
- Keywords: China U.S. Steve Mnuchin
- Location: WASHINGTON D.C., UNITED STATES
- City: WASHINGTON D.C., UNITED STATES
- Country: USA
- Reuters ID: LVA001B0NMFRB
- Aspect Ratio: 16:9
- Story Text: China's Vice Premier Liu He arrived at the U.S. Chamber of Commerce for meeting for a second day of high level trade talks on Friday (October 11).
U.S. Treasury Secretary Steve Mnuchin and U.S. Trade Representative Robert Lighthizer greeted the Chinese official on the front steps before heading in to the meetings.
A U.S.-China currency agreement being floated as a symbol of progress in this week's trade talks between the world's two largest economies would largely repeat past pledges by China, currency experts say, and will not change the dollar-yuan relationship that has been a thorn in the side of President Donald Trump.
Such a deal would, however, provide the U.S. Treasury an opportunity to climb down from what currency experts say was a misguided declaration in August that Beijing was a "currency manipulator," reducing the yuan's value to gain "unfair competitive advantage in international trade."
Little is known about the structure of a currency deal that the U.S. Chamber of Commerce said American and Chinese negotiators were working toward on Thursday in their first high-level trade talks since July, but it is widely expected to include a promise from both to sides to refrain from devaluing their currencies to gain a competitive trade advantage.
As members of the Group of 20 major economies, both the United States and China agreed to such language starting in 2010.
(Production: Deborah Gembara) - Copyright Holder: REUTERS
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