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US Treasury Secretary Steven Mnuchin to focus on currencies as G-20 girds for Trump era
Finance ministers and central bank governors of the world’s 20 key economies are scheduled to meet from March 17 in the spa resort of Baden-Baden in southern Germany.
While other members plan to stick to the informal economic rule book that the G-20 writes, the U. appears poised to challenge the consensus that its based on.Four people in the U.S. and Europe with knowledge of the Treasury’s preparations and the G-20 communique drafting process spoke on the condition of anonymity to discuss the confidential deliberations.
WASHINGTON: US Treasury Secretary Steven Mnuchin plans to use his debut at a Group of 20 meeting in Germany next week to drive home the message that the US won’t tolerate countries that engage in currency devaluation to gain an edge in trade, according to people familiar with the matter.The message, which will borrow from the G-20 consensus view hammered out with the previous U.S. administration, will be Mnuchin ‘s focus as he has few political staffers to develop detailed positions on key points such as global trade rules and their collision with President Donald Trump ‘s “America First” stance, the people said.A mainstay of G-20 statements in recent years, the pledge to refrain from using monetary policy to cheapen currencies takes on new relevance amid US claims that China, Germany and others are doing just that.
as informed in ___This story has been corrected to show that White House press secretary Sean Spicer said the president is committed to “tax reform,” not “tax refund.”
WASHINGTON (AP) — Now that the effort to overhaul the nation’s health care system has collapsed, the Trump administration is turning its attention to tax reform.
After Republicans pulled the health measure, Trump told reporters at the White House, “I would say that we will probably start going very, very strongly for the big tax cuts and tax reform.
In his earlier appearance, Mnuchin did not reveal whether the administration will include a contentious border adjustment tax that is in a House tax proposal.
Mnuchin had lunch at the White House Friday with Trump and House Speaker Paul Ryan.
collected by :Molly Tony