U.S. Treasury Secretary Signals Major Trade Agreement with China in Upcoming Talks
U.S. Treasury Secretary Mnuchin has indicated that a number of significant trade agreements will be announced in the coming weeks, including face-to-face negotiations with Chinese officials. This announcement comes as the U.S. is engaging in trade talks with several partners, including India and other Asian nations.
In an interview, Mnuchin mentioned that many major trading partners have put forward interesting proposals, and significant developments are expected in the near future. He emphasized that the reciprocal tariff policy initiated by President Trump aims to promote sincere trade discussions, stating that if no retaliatory actions are taken, the tariffs would remain at the established limits.
Initially, the European Union set the tariff at 20% and was granted a 90-day negotiation period, but President Trump expressed dissatisfaction with the lack of progress, stating that a 50% tariff will take effect on June 1.
