US Treasury Sec. Mnuchin: Seeking to promote more domestic manufacturing
|Adding to his previous comments to the G20 trade ministers, US Treasury Secretary Steve Mnuchin emphasized the need for the US to become self-dependant as far as medical supplies are concerned.
Key quotes
Overdependence on other countries for cheap medical supplies has created strategic vulnerability to US economy.
Encouraging diversification of supply chains, seeking to promote more domestic manufacturing.
G20 should stay focused on the response to the pandemic, not try to use it to push other agendas in trade or elsewhere.
FX implications
The news helped to offer a bit of risk-on by the end of Monday’s trading, as could be witnessed from Wall Street close.
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.