1/24/2018

STEVE MNUCHIN/TREASURY: “U.S. Treasury Secretary Steven Mnuchin brushed off worries about the dollar Wednesday [1-24-18] and expressed little concern over the decision by 11 Pacific Rim countries to forge a new commercial bloc that excludes the U.S…
It is unusual for a Treasury secretary to comment on where the dollar should be. Mr. Mnuchin, who was speaking at a briefing at the World Economic Forum in Davos, Switzerland, was also asked about reports that Chinese investors are slowing their purchases of U.S. securities. ‘It’s not something we’re particularly concerned about… Mr. Mnuchin also responded to Tuesday’s speech by Canadian Prime Minister Justin Trudaeu, who extolled the new pact. Canada is also part of the deal.
Mr. Mnuchin said the Trump administration supports ‘bilateral trading agreements,’ adding that ‘anyone who wants to do trade on a reciprocal basis [with the U.S.] is free to do it.’
Commerce Secretary Wilbur Ross, also present at Wednesday’s briefing, suggested Mr. Trudeau’s remarks were meant to ‘put some pressure on the U.S.’ in the midst of ongoing talks to revamp the North American Free Trade Agreement.”

-Deborah Ball, “Mnuchin Brushes Off Concern About Dollar, Trade,” The Wall Street Journal online, Jan. 24, 2018 05:56am