Mnuchin Says China Trade Meeting Will Happen But Won’t Say When

Treasury Secretary Steven Mnuchin said U.S. trade officials expect Chinese negotiators to visit Washington, but wouldn’t say whether a previously planned September meeting would take place.

“We continue to have conversations. We’re planning for them to come,” Mnuchin said Wednesday in an interview, declining to say whether the September encounter would happen.

Read more: Mnuchin Says Ultra-Long Bonds Under ‘Very Serious Consideration’

Concern about prospects for a trade breakthrough weighed on markets on Thursday. Futures on the S&P 500 Index fell 0.4% and most Asian equity indexes traded lower, while the yen advanced.

“There’s no appetite to actively trade equities right now,” said Ayako Sera, a market strategist at Sumitomo Mitsui Trust Bank Ltd. in Tokyo. “There will be another round of tariff increases on Chinese goods at the start of September. Investors’ current stance probably is to see through carefully what kind of impact the latest tariff hike has on the global economy.”

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