US, China set tone for October trade talks
As the Chinese head into the Golden Week holiday, celebrating the 70th anniversary of Communist rule on Oct. 1-7, officials are preparing for trade talks with the United States set for the second week of the month.
"China’s position on the negotiations is consistent and clear, and the Chinese principle has been emphasized many times," Wang Shouwen, Vice Minister of Commerce, People's Republic of China and Deputy China International Trade Representative told reporters in Beijing.
"The two sides should find a solution to the problem through equal dialogue in accordance with the principle of mutual respect, equality, and mutual benefit. This is in the interests of the two countries and the two peoples and in the interests of the world and the people of the world."
Shouwen will join Vice Premier Liu Hu, in the delegation that will head to Washington Oct. 10 to meet with President Trump's trade team, including U.S. Trade Representative Robert Lighthizer and Treasury Secretary Steven Mnuchin.
During an interview last week with FOX Business' Lou Dobbs on "Lou Dobbs Tonight," Mnuchin clarified how the trade negotiations are going.
"The president's been very clear if we can get the right deal, he wants the deal," Mnuchin told Dobbs. "If we can't get the right deal, he's happy with the tariffs."
Mnuchin touted how President Trump is the first president to take these trade issues head-on.
"As you know, the president not only likes tariffs, but he uses them strategically," Mnuchin said. "And he's right."
Amid the ongoing trade battle with China, there was speculation the United States would move to curb Chinese companies listing on U.S. exchanges. Over the weekend, the Treasury Department shot down that speculation.
"The administration is not contemplating blocking Chinese companies from listing shares on U.S. stock exchanges at this time," Treasury spokeswoman Monica Crowley Tweeted in a statement. "We welcome investment in the United States."
| Ticker | Security | Last | Change | Change % |
|---|---|---|---|---|
| ICE | INTERCONTINENTAL EXCHANGE INC. | 132.33 | +0.69 | +0.52% |
| NDAQ | NASDAQ INC. | 61.09 | -0.11 | -0.18% |
Both the New York Stock Exchange, owned by Intercontinental Exhange, and the Nasdaq actively court foreign companies to list on their exchanges.
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FOX Business' R.N. White contributed to this report.