Mnuchin to Travel to China for Trade Talks Next Week

Christine Lagarde head of the International Monetary Fund, attends a conference at the Cannes Lions Festival in Cannes France

Follow a press conference with French President Emmanuel Macron, Trump told reporters "China's very serious, and we're very serious".

US Treasury Secretary Steven Mnuchin and US Trade Representative Robert Lighthizer will head to China for trade talks within days, President Donald Trump announced on Tuesday. Trump says the USA and China are "very serious" and is reiterating plans to impose tariffs up to $100 billion more on Chinese goods.

"We've put on very substantial tariffs, and that will continue unless we make a trade deal". "I think China is very serious; we're very".

Trump has authorised tariffs on about US$50 billion (S$66 billion) in Chinese exports in response to China's alleged theft of American intellectual property.

This will be Mnuchin's first China visit since he was sworn in as US Treasury Secretary in February a year ago.

But the administration has indicated it's willing to negotiate with China and avert a trade war, a prospect that's rattled financial markets.

In a speech earlier this month, Chinese president Xi Jinping said his country would open itself wider to foreign companies. China has received information regarding Mnuchin's possible trip to China and China welcomes this information, China's Ministry of Commerce said on Sunday.

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