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'We'll do what we need to do' to get China trade deal done -Mnuchin

Video Credit: Reuters Studio - Duration: 01:00s - Published < > Embed
'We'll do what we need to do' to get China trade deal done -Mnuchin

'We'll do what we need to do' to get China trade deal done -Mnuchin

U.S. Treasury Secretary Steven Mnuchin said on Monday that an additional round of tariffs on Chinese imports will likely be imposed if a trade deal with China has not been reached by December 15, but added that he expected the agreement to go through.

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'We'll do what we need to do' to get China trade deal done -Mnuchin

In an interview with CNBC, Mnuchin said tariffs would go in place if a deal with China falls apart, when asked about a round of tariffs scheduled for Dec.

15.

But in a press conference outside the White House after the interview, Mnuchin said "there is an agreement in principle" for a Phase 1 deal and that it was "substantially done." U.S. President Donald Trump said on Friday that China and the United States had reached the first phase of a trade deal that covered agriculture, currency and some aspects of intellectual property protections, and would ease the reciprocal trade restrictions that the world's two largest economies have been imposing for 15 months.

But officials on both sides have said more work is needed to finalize the accord, and Trump acknowledged the agreement could still collapse.

Mnuchin said more trade negotiations at various levels would take place over the coming weeks, including a phone call between himself, U.S. Trade Representative Robert Lighthizer and Chinese Vice Premier Liu He, and talks between Trump and Chinese leader Xi Jinping.



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