5/21/2018

CHINA/STEVE MNUCHIN/TARIFFS/TRUMP AS PRESIDENT: “The U.S. suspended its threat to impose tariffs on $150 billion in Chinese imports to the U.S. while negotiations with China continue, but President Donald Trump could impose the tariffs if a deal between the two countries doesn’t progress, Treasury Secretary Steven Mnuchin said. ‘Both parties have agreed to suspend the tariffs,’ Mr. Mnuchin said Monday [5-21-18] in an interview on CNBC, echoing remarks he gave over the weekend. He specified that the U.S. was pausing its efforts to apply tariffs to $150 billion in Chinese imports to the U.S., and that China would hold its threat to retaliate with tariffs on $50 billion in U.S. goods. If the negotiations aren’t successful, however, ‘the president can always put tariffs back on,’ he said. There is no specific timetable for the next steps in the negotiations, Lawrence Kudlow, the director of the National Economic Council, said on Monday.”

-Josh Zumbrun, “Treasury Secretary Says U.S., China Have Suspended Tariffs,” The Wall Street Journal, May 21, 2018 10:25 am