China’s U.S. Trade Deal Commitments not Changed in Translation: Mnuchin
China’s commitments in the Phase 1 trade deal with the United States were not changed during a lengthy translation process and will be released this week as the document is signed in Washington, U.S. Treasury Secretary Steven Mnuchin said on Sunday.
Mnuchin told Fox News Channel that the deal reached on Dec. 13 still calls for China to buy $40 billion to $50 billion worth of U.S. agricultural products annually and a total of $200 billion of U.S. goods over two years.
“It wasn’t changed in translation. I don’t know where that rumor started,” Mnuchin said on the “Sunday Morning Futures with Maria Bartiromo” show.
“We have been going through a translation process that I think we said was really a technical issue,” Mnuchin said. “And the language will be released this week. So I think it is — the day of the signing, we will be releasing the English version.”
“And people can see. This is a very, very extensive agreement,” he added.
Asked if he still expected China to purchase $40 billion to $50 billion in U.S. farm products under the deal, Mnuchin said: “I do. Let me just say, it is $200 billion of additional products across the board over the next two years, and, specifically in agriculture, $40 billion to $50 billion.”
Neha writes articles on sectors including medicine, food, materials, and science & technology. A qualified statistician, she has the ability to observe and analyze the trends in global markets and write compelling articles that help CXOs in decision making. She is a bookworm and loves to read fiction, lifestyle, science and technology. Neha comes with 6 years of experience in content writing and editing that involves blog writing, preparation of study materials and OERs.