'It never was a trade war': Treasury Secretary Steve Mnuchin downplays dispute with China as Trump touts potential deal with Beijing
Treasury Secretary Steve Mnuchin walked back a claim on Monday that the 'trade war' with China is on hold.
He told CNBC that statement on 'Fox News Sunday' was a misspeak, and 'It never was a trade war.'
'What I would have really said is this has been a trade dispute all along,' he said of the Trump administration's bid to reduce its trade deficit with China by $200 billion.
After several days of meetings at the White House, Chinese negotiators promised the U.S. to open up trade in the agricultural and energy sectors. China also agreed to address the United States' intellectual property concerns.
'Barriers and Tariffs to come down for first time,' the president tweeted on Monday.
The president said in tweets that the 'potential deal' that the U.S hammered out with Beijing would be a bonanza for America farmers.
'They will purchase from our Great American Farmers practically as much as our Farmers can produce,' he said of the China.
Trump asserted that the prospective agreement with China includes 'massive amounts of ADDITIONAL Farm/Agricultural Products' and would be one of the best things to happen to our farmers in many years!'
The president's trade representatives blitzed the business networks on Monday morning trying to tamp down expectations, however, for a potential deal.
Mnuchin told reporters at the White House that it is in fact just a framework that Ross will have to have to turn into a formal between businesses.
'This is not a government-to-government purchase order,' Mnuchin admitted.
He said he expects 35 to 40 percent increases in the agricultural sector, though, in the near future.
qahwagi, Madison, United States, about 4 hours ago
Gee, I thought when Rump said it was so easy to win a trade war, he was talking about a trade war ----- hard to tell what he's talking about, isn't it ?
assatis7, Worcester, United Kingdom, about 6 hours ago
dazed and confused?
Lindacooper, guildford, about 6 hours ago
the media and the left told us trump would cause a trade war, trump only ever said he wanted fair reciprocal trade,
Mistadobolina, London, United Kingdom, about 7 hours ago
Hahaha hahaha hahaha the art of back peddling!!
Redneck_Crusher, Houston, United States, about 8 hours ago
Now that Agent Orange sees that China will not back down, he is trying to save face by calling it something else. The worst part? Deplorables will blindlessly licked it up. SMDH...
jbegan, Grass Valley, about 8 hours ago
Sorry my little munchkin.. Definition of Trade War (noun) a situation in which countries try to damage each other's trade, typically by the imposition of tariffs or quota restrictions. ... Yeah buddy. You and dimwit donnie created a trade war.
Tubadore, Hodunk, United States, about 8 hours ago
The Administration of Liars
Carrie, Geneva, about 8 hours ago
Yes, the Obama Administration was terrible. Some of them will soon be in silver cuffs.
OldTomPaine, Tampa, United States, about 9 hours ago
Trump got paid 500M by Chyna so now he's richer and we have the same trade imbalance we had before.
MidwestMikeJ, Lakeville, United States, about 9 hours ago
More Lefty fake news. Same construct.
no-god-no-master, purgatory, United States, about 9 hours ago
"More Lefty fake news" ...The Chin ese gov*ment is extending a $500 million loan to a state-owned construction company to build an Ind onesian theme park that will feature a Trump-branded golf course and hotels. ..