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US Treasury Secretary Mnuchin: Trade Issues Expected to be Resolved by End of October
Summary: According to Jinshi News, US Treasury Secretary Mnuchin stated in an interview with Nikkei that President Trump's tariff policy aims to bring manufacturing back to the US. Mnuchin described Trump's economic policy since taking office as a 'three-legged stool' - taxes, trade, and deregulation. Regarding taxes, the record-breaking Tax Cuts and Jobs Act was signed ...
According to Jinshi News, US Treasury Secretary Mnuchin stated in an interview with Nikkei that President Trump's tariff policy aims to bring manufacturing back to the US. Mnuchin described Trump's economic policy since taking office as a 'three-legged stool' - taxes, trade, and deregulation. Regarding taxes, the record-breaking Tax Cuts and Jobs Act was signed into effect on July 4. Mnuchin believes that the trade-related work can be mostly completed by the end of October. As for deregulation, it is an ongoing process, with President Trump requiring the repeal of ten old regulations for every new one introduced.
Mnuchin mentioned that the shift in trade policy towards tariffs is primarily to rebalance the trade deficit. He stated that over time, tariffs should melt away like ice. If production returns to the US, our imports will decrease.
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Link: US Treasury Secretary Mnuchin: Trade Issues Expected to be Resolved by End of October [Copy]
