Mnuchin Says Not Losing Sleep About China Possibly Selling US Government Bonds

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Mnuchin Says Not Losing Sleep About China Possibly Selling US Government Bonds

Treasury Secretary Steven Mnuchin said in an interview on Friday that he is not worried about the possibility that China could sell off US government bonds amid trade tensions between the countries.

WASHINGTON (UrduPoint News / Sputnik - 12th October, 2018) Treasury Secretary Steven Mnuchin said in an interview on Friday that he is not worried about the possibility that China could sell off US government bonds amid trade tensions between the countries.

"If they decide they don't want to hold them, there are other buyers," Mnuchin told CNBC. "It is not something I'm losing any sleep about."

The secretary noted that it would be very costly for Beijing to sell US treasury securities which China has been accumulating for many years.

Beijing currently holds $1.17 trillion of US bonds and could dump a large part of its holdings in retaliation over tariffs imposed by Washington.

Mnuchin also defended President Donald Trump's tariffs on goods from China and called them a very important negotiating tool.

The United States and China have become increasingly embroiled in a trade dispute that has seen the two sides impose tariffs on billions of Dollars worth of goods.

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