Treasury Sec Mnuchin: “There is the potential for a trade war”
Mnuchin on CNBC
- Objective of US is still not to have a trade war with China
- We are in communication with China constantly
- We are willing to negotiate
- We’re going to protect our farmers
- Says ‘of course’ he knew about latest tariff before it was announced
- We can manage this with significant damage to the overall economy
- We have ways of mitigating damage to economy from tariffs
- “I didn’t say it’s not the beginning of a trade war”
- “There is the potential for a trade war”
- Cites 3rd parties selling via Amazon not paying sales tax
- We want to keep weighted-average of US debt issuance ‘reasonably stable’
Not much to take away.
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