collected by :Maolly Tony
as declared in President Donald Trump’s “America First” agenda—along with administration threats to level unilateral currency sanctions, vows to rewrite international trade deals, and jabs at the World Trade…
Treasury Secretary Steven Mnuchin, debuting on the global stage before the world’s finance chiefs in Germany this week, is hoping to tamp down worries that the Trump administration is on the verge of sparking a trade war.
as declared in Mnuchin arrives Friday in Baden-Baden, Germany, for a meeting of G-20 finance ministers and central bankers, during his first official trip abroad.
The new U.S. Treasury chief acknowledged the complexity underlying Germany’s large trade imbalance and said the U.S. wants to avoid trade wars.
We are for a free, regulated international trade, with rules respected by everyone.”Mnuchin wasn’t sounding like a hardened trade protectionist on Thursday.
G-20 ClubThe challenge for Mnuchin will be to square the Trump administration’s threats of tariffs for trade cheaters and inward-looking economic policies with the cooperative spirit the G-20 has operated under for years.
It is a very different situation than we have: a single currency controlled by a single country,” Mnuchin said.
Mnuchin Says U.S. Is Seeking to Avoid Trade Wars
Rather, Mr. Mnuchin said Washington is trying to rebalance unfair trade relationships that are harming growth in the world’s largest economic engine.
Treasury Secretary Steven Mnuchin, facing growing anxieties President Donald Trump’s “America First” economic platform could trigger a damaging series of retaliatory sanctions around the world, said Thursday the administration doesn’t want to start any trade wars.