US Treasury Sec. Mnuchin: Made progress last week in talks with China
|During an interview with CNBC on Monday, United States (US) Treasury Secretary, Steven Mnuchin, said that they did make progress in last week's negotiations with China and added that the "phase one deal" was "quite substantial."
Mnuchin further reiterated that tariffs will be imposed on December if they fail to reach a final deal by that date. Moreover, Mnuchin announced that him and Trade Representative Lighthizer will be holding a phone call with China's Vice Premier Liu next week.
The market reaction to these comments remains limited amid the thin trading conditions on the Columbus Day holiday.
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