President Trump’s Treasury Secretary revealed the strategy in dealing with a possible trade with China on Friday.
On CNBC’s Power Lunch, Mnuchin said the objective is still not a trade war with China.
VIDEO:
Treasury Secretary Mnuchin: Trump has been very clear on defending free, fair trade from CNBC.
Mnuchin is “cautiously optimistic” that they will be able to work something out, yet he believes there is still a chance of a trade war.
Mnuchin said the U.S. is in “communications” with China, but he didn’t want to comment on the progress of the talks.
“Right now we have initiated a plan. The tariffs will take some period of time to go into effect. There will be public comment, while we’re in the period before the tariffs go on. We’ll continue to have discussions,” he said. “The president wants reciprocal trade.”
Mnuchin also noted that President Donald Trump is actively involved on a daily basis in the tariff plans with him and U.S. Trade Representative Robert Lighthizer.
Perhaps President Trump is merely putting America in a strong position to be on the winning side of the negotiating table with China.
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