US and Chinese officials will meet for another round of negotiations in January to negotiate a deal to avoid an escalation of the trade war, according to Treasury Secretary Steven Mnuchin.
“We’re in the process of confirming the logistics of several meetings and we’re determined to make sure that we use the time wisely, to try to resolve this,” Mnuchin told Bloomberg, referring to the 90-day window allotted for the cease fire.
Mnuchin said that the US, in addition to reducing the bilateral trade deficit, was seeking greater reciprocity with regards to access for American companies to Chinese markets. “And if we do that and there are structural changes, the trade deficit by definition will be a lot more balanced,” he said.
“I don’t think there is a question of there is a win for them, or a win for us,” Mnuchin said. “I think that there could be a win for both in the sense of they have a large, growing middle class that wants US goods. So, I think there’s an economic outcome that’s good for both of us.”