- Mnuchin said that he thinks trade talks with China will resume in two weeks.
- Mnuchin said that the most important issue regarding China is intellectual property.
US Treasury Secretary Mnuchin said that he thinks trade talks with China will resume in two weeks, although earlier he said that the Chinese Vice Premier is coming to the US next week for talks – Therefore, minister-level talks are likely what was being referred to, which is already priced in to the markets expecting such talks to place in October.
Key quotes from the US Treasury Secretary Steve Mnuchin
- “I think trade talks with China will resume in two weeks.”
- “The most important issue regarding China is intellectual property.”
- “The Chinese Vice Premier is coming to the US next week for talks.”
- “The Chinese farm visit was delayed at our request.”
FX implications
As we have seen time and time again, markets are in a state of flux over the trade talks and sentiment can flip at a drop of a hat. An example of that was as recent as last week when cancellation of a planned Chinese delegation’s trip to meet with U.S. farmers in Montana and Nebraska sent stocks lower and risk-off currencies such as the Yen, higher.
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