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U.S. would re-open trade talks if China makes major changes -Mnuchin

Reuters  |  WASHINGTON 

(Reuters) - The and could reopen talks on trade but only if is willing to make significant changes, said on Thursday.

"I would say to the extent that the Chinese want to make serious efforts to make structural changes, I and the administration are available any time to discuss those," said during a hearing before lawmakers in

Pressed on the possible negative impact of multiple trade disputes on the U.S. economy, said the was keeping a watchful eye.

"We are monitoring very carefully the impact of tariffs and we will continue to do so," he said.

On Wednesday, said it would hit back after escalated their trade dispute, threatening 10 percent tariffs on $200 billion of Chinese goods.

Mnuchin also said that the renegotiation of the North American Free Trade Agreement was a big priority for the administration now that Mexico's recent had passed.

The United States, and have been negotiating to revamp the 24-year-old trade pact since last August, but talks have stalled over U.S. demands on autos and other issues.

(Reporting by Lindsay Dunsmuir; Editing by and David Gregorio)

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Thu, July 12 2018. 21:54 IST