So far, one thing has been settled and others are on the way. President Trump has declared victory after Mexico and Washington agreed to hold Central Americans from migrating to United States. The President has also cancelled plans on imposing 5% tax on all Mexican exports. Following this event, Steven Mnuchin, Treasury Secretary of US told reporters on Saturday on June 7, 2019 at the G-20 Summit in Japan that he would want China to return to negotiations with US.
Mnuchin has said that he has decided to have a private conversation with Yi Gang, the chief of central bank of China. During the G-20 meeting which was held later during the day, Mnuchin and Gang were seen talking in friendly terms. However, there was no sign regarding Beijing wanting to compromise over technology and trade. Mnuchin said that from their current situation it can be said that they are backing from certain commitments that they had made. However, it would not be considered as either good or bad faith. They always have the opportunity to come back and negotiate terms and it would actually be great. He also said that he had no new message to convey to Yi on how to sort the conflict between the two biggest economies of the world.
Mnuchin has mentioned that there are no new plans of trade talks in Beijing or Washington before Xi Jinping and Trump meet on June 28 and 29 in G-20’ Summit in Osaka. Administration of Trump had started to impose tariffs on import of Chinese products. They had also alleged Beijing of using predatory means for lending Chinese companies an advantage in robotics, artificial intelligence, electric vehicles etc. Those privileges would provide them ways to hack information out of US computers, pressuring foreign companies to give them sensitive technological help in exchange of entering Chinese market and using unfair means to subsidize Chinese tech companies.