The US Treasury announced its readiness for the consequences of a trade deal with China
The United States and China are approaching the “final round” of negotiations that should end the trade war. According to Finance Minister Stephen Mnuchin, the United States is ready to face the consequences of non-compliance with the agreements reached.
US Treasury Secretary Stephen Mnuchin
The United States is ready to face "consequences" if they do not fulfill their obligations under a potential trade agreement with China. This was stated by US Treasury Secretary Stephen Mnuchin, reports Bloomberg. According to him, both China and the United States undertake certain obligations under the proposed agreement, but did not specify what exactly this is about.
“I expect that the enforcement mechanism will work in both directions, so we expect our obligations to be fulfilled. And if not, then there should be certain consequences, exactly the same as for the other side. [Китая]"- said Mnuchin.
China and the United States have made progress in negotiations to end the trade war, which has "marred" the growth of the world economy and financial markets. According to Mnuchin, Washington and Beijing will create "law enforcement agencies" to monitor compliance with the agreements reached.
“We hope that we are approaching the final round to resolve issues,” said Mnuchin. China and the US are now discussing whether more meetings should be held after the recent talks in Beijing and Washington, the head of the US Treasury added.