Translate

Search This Blog

Search Tool




Asian Markets at Close Report

European Markets at Close Report

Apr 6, 2018

CNBC | Trade: Mnuchin said he is in communication with China about tariffs, objective is not a trade war on April 6, 2018.

cnbc.com

Mnuchin said he is in communication with China about tariffs, objective is not a trade war

Tae Kim

Steve Mnuchin Mike Blake | Reuters
Steve Mnuchin
Treasury Secretary Steven Mnuchin said a trade war is possible with China.
"Our objective is still not to be in a trade war with [China]," Mnuchin said on CNBC's "Power Lunch" Friday. "I'm cautiously optimistic that we will be able to work this out ... There is the potential of a trade war."
Trade tensions between China and U.S. rose this week. President Donald Trump on Thursday said he instructed the U.S. trade representative to consider $100 billion in additional tariffs against China.
The move followed China's announcement on Wednesday of tariffs on 106 U.S. products, including soybeans, cars, aerospace and defense, which came a day after the Trump administration detailed its targets of Chinese imports to be subjected to tariffs.
This is a developing story. Check back for updates.