US Treasury’s Mnuchin downplays fears of US-China trade war

Indonesia World Economy 72692 - US Treasury’s Mnuchin downplays fears of US-China trade war

NUSA DUA, Indonesia (AP) — U.S. Treasury Secretary Steven Mnuchin has downplayed widely voiced concerns over the risks that trade tensions with China could disrupt the world economy.

Mnuchin also told reporters Saturday in Bali, Indonesia, that he doesn’t lose sleep over the possibility that China might sell its huge hoard of U.S. treasuries in retaliation.

Concerns that trade friction between Washington and Beijing will depress global trade and generate turmoil in financial markets have been a major theme of global finance meetings this week in Bali.

China’s central bank governor, Yi Gang, joined the chorus, describing protectionism and trade tensions as “major risks” for the world economy

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The annual meeting of the International Monetary Fund and World Bank, and a slew of other financial gatherings on the sidelines, were winding down Saturday.

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