US wants big changes for trade talks; Beijing says 'take gun off our head'

The United States and China could reopen talks on trade but only if Beijing is willing to make significant changes, US Treasury Secretary Steven Mnuchin said on Thursday. Meanwhile, Beijing's Deputy Commerce Minister Wang Shouwen said that the US should "take the gun off" China's head and start keeping its word in order to have useful talks on ending a trade war. "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," Mnuchin said during a hearing before lawmakers in Washington. Pressed on the possible negative impact of multiple trade disputes on the US economy, Mnuchin said the Trump administration was keeping a watchful eye.