US Treasury Sec. Mnuchin: There will be additional tariff rollbacks in phase two of China trade deal

Eren Sengezer FXStreet

China has agreed to put together very significant laws to follow through on its commitments and there will be additional tariff rollbacks in phase two of China trade deal, US Treasury Secretary Mnuchin told CNBC on Wednesday.

The 10-year US Treasury bond yield recovered modestly from daily lows and was last down 1% on the day at 1.797%. Below are some additional quotes, per Reuters.

"Certain tech and cybersecurity issues will be in phase two of US-China trade deal."

"Phase one of China deal has very thorough enforceable mechanism."

"Huawei is not a chess piece in US-China relationship."

"Huawei is not part of the economic dialog with Beijing, will be negotiated separately."

Author

Eren Sengezer

FXStreet

As an economist at heart, Eren Sengezer specializes in the assessment of the short-term and long-term impacts of macroeconomic data, central bank policies and political developments on financial assets.

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