May 12, 2017 / 8:59 AM / 3 months ago

Mnuchin 'excited' about U.S. trade policies after China deal

U.S. Secretary of the Treasury Steven Mnuchin talks with reporters as he arrives for the G7 Financial ministers meeting in the southern Italian city of Bari, Italy, May 12, 2017.Alessandro Bianchi

BARI, Italy (Reuters) - U.S. Treasury Secretary Steven Mnuchin said he was "excited" about the Trump administration's trade policies after the United States and China announced a series of trade measures aimed at shrinking the U.S. trade deficit with China.

Asked how he would defend the Trump administration's trade policies at a meeting of G7 finance leaders in Italy, Mnuchin said: "Oh, I think we're excited about US trade policies and I think you probably saw last night we made an announcement of a 100-day economic plan with the Chinese so I think we are very happy with how we are proceeding on trade."

Washington and Beijing agreed to a plan that would open China to exports of U.S. beef and liquefied natural gas (LNG), as well as give access for U.S. financial services firms in areas in China such as card payment services, credit ratings and a limited amount of bond underwriting services.

Reporting by William Schomberg; Writing by Jan Strupczewski

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