U.S. a bright spot as Chinese, European economy slow down: Steven Mnuchin

Marco Green
September 10, 2019

China's currency practices will be a topic of conversation during the next round of trade talks in China scheduled in Washington early next month, Treasury Secretary Steven Mnuchin said on Monday, according to Politico.

"I think there's no question the U.S. economy is in very good shape".

"And in regards to a middle-class tax cut, you know, we'll be looking at tax cuts 2.0, something that will be something we'll consider next year. Nonetheless honest now, the economy is in very, very moral shape".

"We expect in the near term we'll have an agreement where we will allow both Fannie Mae and Freddie Mac to retain their earnings", Mnuchin told Fox Business.

He acknowledged that there "have been certain situations where there have been difficulties for companies", but that Team Trump "has done a very good job managing the exception process on a case-by-case basis". If we can get a good deal, a deal that's good for us, we'll sign it.

It is also "no question" that United States growth is "significantly higher" than that in the rest of the world, said Secretary Mnuchin, because "the Trump economy, the economic plan, is working".

An additional 15 percent tax on Chinese imports went into establish on about $112 billion value of products on September 1, with one other round place to train establish in mid-December.

Speaking with journalists, Mnuchin said that, while no decision has yet been made, the Trump administration is "looking at" penalizing its North Atlantic Treaty Organisation ally over that country's importation of the missile batteries, whose presence in Turkey the U.S. believes would compromise its F-35 stealth aircraft program and aid Russian intelligence.

The United States for more than two years has been seeking sweeping changes to China's policies and practices on intellectual property protection, the forced transfer of US technology to Chinese firms, American companies' access to China's markets and industrial subsidies.

Other reports by Click Lancashire

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