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Mnuchin: Trump impose China-duties, not worried about recent losses in the market

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Steven Mnuchin talks trade war fears, the stock market tremors

Finance Minister weighs in on President Trump the tariffs, threats of a trade war, and falls in the stock market.

President Trump has not promised too much when he ordered $ 60 billion in tariffs on China, to impose in an obvious attempt, the balance of trade between Nations, and he fully intends that the surcharge on imports, the Minister of Finance of Steve Mnuchin, said Sunday.

“We will go with our rates. We are working on it,” Mnuchin Fox News Sunday said, “” in an exclusive interview that the United States is also trying to a trade deal with China, in the country, a reduction in tariffs and further opening its markets.

“We are at the same time negotiations with the Chinese to see if we can find an agreement,” he said. “As the President has said, we want to cut the trade deficit by 100 billion dollars over the next year. … I’m cautiously hopeful that we will reach an agreement, but if not, we will proceed with these plans. We are not to keep you.”

China has the second largest economy after the United States, in the world market.

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Mnuchin on Sunday also shut down the stock played markets fluctuating sharply since at least the beginning of March, when Trump imposed tariffs on imported steel, and aluminum.

“I think what we do is for the long term good for the econony,” he said. “Free and fair trade.”

PRESIDENT TRUMP ANNOUNCES NEW ROUND OF TARIFFS, INVESTMENT RESTRICTIONS AGAINST CHINA

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The Dow Jones Industrial Average fell 400 points in the last week, in the Trump to the imposition of duties on China vows for allegedly violations of intellectual property rights and China, in turn, to apply, to at least $3 billion in duties on U.S. exports.

“There are a lot of different things, the impact on the stock market, but I think to focus on the most important thing is the market will go up and down in the short term, the really important question is, where will it be, the long-term. And the market is still a huge effort, since the said since the election,” Mnuchin.

“I don’t expect to see a big impact on the economy,” he added. “We were very careful how we do this and what we do.”

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