U.S. trade mission seeking structural changes to China's economy: Mnuchin
The Trump administration is pursuing structural changes in China’s economy as part of trade talks under way in Beijing, in addition to increased Chinese purchases of American goods, U.S. Treasury Secretary Steven Mnuchin said on Saturday, Reuters reported.
U.S. Commerce Secretary Wilbur Ross, who is leading an interagency team of officials in the discussions, will be seeking to address issues such as China’s joint venture requirements for foreign firms and policies that effectively force technology transfers, Mnuchin said at a press conference at the end of a meeting of G7 finance leaders in Canada.
“I want to be clear, this isn’t just about buying more (U.S.) goods, this is about structural changes.” Mnuchin said. “But I also fundamentally believe that if there are structural changes that allow our companies to compete fairly, by definition that will deal with the trade deficit alone.”