FinMin in Talks With US Treasury Secretary Over Trade War

Finance Minister, Nirmala Sitharaman was in talks with the US Treasury Secretary, Steven Mnuchin on 1 November 2019 over a set of concerns at the IMF headquarters. Two of those concerns were the US-China trade war and the Iran sanctions issue.

Speaking to the press representatives after the discussion, Nirmala Sitharaman stated that they addressed several issues during the meeting. Steven Mnuchin claimed that he is working with his allies to make sure that there is enough oil and Iran sanctions do not impact other countries. 

Also Read: Global Trade War Between China and USA and How It Affects Gold

Steven Mnuchin added that the US is making progress in terms of resolving the trade deal with China. Meanwhile, the US is seeking support from countries across the globe against Iran over the nuclear programme and the connection with militants. 

In addition to talks and discussions, Mnuchin together with Jared Kushner, Donald Trump’s senior advisor and son-in-law began a tour covering Isreal, Saudi Arabia, United Arab Emirates, Qatar, and India on 25 October 2019.

Sitharaman spoke to the press in October and displayed a positive sign stating that the negotiations between India and the US on a trade deal is in ‘full speed’ and gave hope of it getting concluded soon. 

For any clarifications/feedback on the topic, please contact the writer at apoorva.n@cleartax.in

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