CHINA TRADE UPDATE: U.S. Considering Lifting Tariffs?

January 17, 2019 03:17 PM
 
According to the Wall Street Journal, U.S. Treasury Secretary Steven Mnuchin discussed lifting some, if not all tariffs on China.

According to the Wall Street Journal, U.S. Treasury Secretary Steven Mnuchin discussed lifting some, if not all tariffs on China. He may even offer a tariff rollback during the next round of trade discussions.  Those talks are planned to begin January 30th with China's economic chief.

The WSJ cited people familiar with internal talks.  The Journal said the proposal has not yet been introduced to President Trump. Also, the report stated Mnuchin faced push-back from U.S. Trade Representative Robert Lighthizer, who feels any concession could be seen as a sign of weakness.

A Treasury Department spokesperson told CNBC: "Neither Secretary Mnuchin nor Ambassador Lighthizer has made any recommendations to anyone with respect to tariffs or other parts of the negotiation with China.  This is an ongoing process with the Chinese that is nowhere near completion."

The report from the Wall Street Journal resulted in the Dow seeing solid gains on Thursday.  It closed up 162.94 to 24,370.10.

Related articles:

CHINA TRADE UPDATE: China Economic Czar to Visit Washington

WSJ: U.S. Weighs Lifting China Tariffs to Hasten Trade Deal, Calm Markets

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Comments

 
Spell Check

Zagnut
Eastern, NE
1/18/2019 10:00 AM
 

  Mnuchin had an ulterior motive to making that comment. I'd guess he was receiving pressure from his cronies that are being screwed right now in the stock market. When that proposal gets presented to Trump, the master of obstruction, he'll throw Mnuchin under the bus and comment he never authorized Mnuchin to reduce or eliminate the Chinese tariffs. So, back to being adrift in the sea of Trump stupidity.

 
 
PJ Jahn
Ptown, IL
1/18/2019 05:03 PM
 

  No one in their right mind would trust either of China, or the Phony, Lying Reneging Conman, Traitor/Trader Trump! Not even the devil would do that deal!

 
 
PJ Jahn
Ptown, IL
1/22/2019 10:48 AM
 

  Only Rick, and the rest of the Phony, Reneging, Lying Conman, Traitor/Trader Trump's stooges, are foolish enough to trust him, and, or, his corrupt, counterfeit crony's! Good luck with that!

 
 

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