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U.S. Treasury Secretary Mnuchin Expects the US to Ink Trade Deal with China

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Mon, 10/14/2019 - 14:20
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Alex Dovbnya
Steven Mnuchin claims that the US could still slap China with additional tariffs in December if there is no trade agreement
U.S. Treasury Secretary Mnuchin Expects the US to Ink Trade Deal with China
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During a recent interview with CNBC, U.S. Treasury Secretary Steven Mnuchin predicted that the US would eventually sign a trade deal with China.

However, if there is no agreement between the two economic superpowers, the US will impose an additional batch of tariffs on China on Dec. 15 (as it previously intended to do). 

“I have every expectation - if there’s not a deal, those tariffs would go in place - but I expect we’ll have a deal,” claims Mnuchin. 

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As reported by U.Today, US President Donald Trump signaled some progress in the US-China trade talks, which instantly painted the US stock market green. Trump also stated they were near the end of the trade war after reaching a partial deal with China. 

However, Goldman Sachs doesn't buy this optimism. The number one US bank predicts that there is a 60 percent chance that the previously announced 15 percent tariffs will be eventually imposed, but it will likely happen in 2020 instead of Dec. 15.   

Will the US and China be able to reach a trade agreement? Feel free to share your comment!  

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About the author

Alex Dovbnya (aka AlexMorris) is a cryptocurrency expert, trader and journalist with extensive experience of covering everything related to the burgeoning industry — from price analysis to Blockchain disruption. Alex authored more than 1,000 stories for U.Today, CryptoComes and other fintech media outlets. He’s particularly interested in regulatory trends around the globe that are shaping the future of digital assets, can be contacted at alex.dovbnya@u.today.