Russia, Treasury, Steven Mnuchin discussed on P&L With Pimm Fox and Lisa Abramowicz

Automatic TRANSCRIPT

Late yesterday the white house said that broad tariffs twenty five percent on steel in ten percent on aluminum that are already ineffective against china russia japan and others would not go into force for the european union as previously planned instead the european union has another month to continue negotiating with the united states about the new pact in order to avoid the tariffs canada mexico they were given an extension until june first talks continuing to rewrite the north american free trade agreement here to tell us more about trade and china is stephen roach is a senior fellow and lecturer yale university also a bloomberg view columnist stephen roach gives us the your perspective on the trip that steven mnuchin the treasury secretaries taken to china and whether they will actually accomplish any resolution to the trade dispute between china and the united states well i worry this is a waste of taxpayer money to send these guys over to beijing there's no real strategy that they have to negotiate a meaningful concession with the chinese and they go over with a with an approach that really has nothing in the way of macro coherence doesn't understand the role that deficits play in as a symptom of america's own macroeconomic imbalances so i'm not too optimistic this trip is going to accomplish anything him stephen you wrote a column for bloomberg where you were saying the us needs china more than china needs the us does beijing.

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