Mnuchin: The US economy has not suffered commercial battles

BUENOS AIRES, Argentina – US Treasury Secretary Steven Mnuchin said Saturday that the US economy had not suffered from commercial battles unleashed by President Donald Trump. rigorous policies, although some sectors have been affected. He said that the administration was studying ways to help farmers and other specific industries that were affected.

Mnuchin spoke to reporters on the sidelines of meetings of Finance Ministers and Central Bank Presidents of the Group of 20 nations, composed of traditional economic powers. such as the United States, Japan and Germany and the emerging economic powers, including China, Brazil, India and Argentina.

Mnuchin said the rates had not had a negative effect on overall growth. countries responded by targeting specific industries.

"Some countries have targeted very specific levels of things that are not coincidental," Mnuchin told reporters. "So, if you look at lobster in Maine or if you look at bourbon in Kentucky or you look at soybeans, there are clearly markets followed."

Mnuchin said that the administration would be "looking at different opportunities to help" But I still think from a macro basis, we still do not see any impact on what is a very positive growth "for Mnuchin said that during a briefing before the start of the G-20 meetings, US Treasury officials told reporters that Mnuchin would be ready to respond to concerns raised by from other countries concerning the commercial policy of the Trump administration

.The United States and China are now in a full-fledged trade war, the two nations imposing tariffs on billions of dollars of merchandise on the other, with even higher tariffs under threat.In spite of stalemate, US officials said that Mnuchin had not scheduled any one-on-one meetings with China at G meetings. Mnuch in had about a dozen individual sessions planned with other countries.

In a recent appearance before the Financial Services Committee of the House, Mnuchin said that negotiations with China had failed and indicated that the United States was waiting. China has found concessions to break the deadlock

The United States and China have imposed tariffs on products of $ 34 billion, to which are added $ 16 billion of penalties. The Trump administration is preparing to impose additional duties of $ 200 billion and Trump has threatened to add $ 300 billion to this figure.

Saturday, the Treasury Secretary said that the US administration clearly had balanced trade relations with China.

"We bought about $ 500 billion worth of goods, bought about $ 130 billion worth of goods from us, and we share the desire to have a more balanced relationship." In addition to the G -20, there will be an hour-long meeting between the G-7 finance ministers and representatives of the central bank.The Treasury officials have stated that part of this meeting would be to allow the G-7 officials to discuss unfair trade practices of China

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Martin Crutsinger, AP writer in Washington, contributed to this story. [ad_2]
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