Investing.com – The secretary of the US Treasury Mnuchin testified today before the Financial Services Committee of the Senate US, and on this occasion referred to the trade dispute with China.
He assured that the US administration intends to support the farmers, under hearing, and if China decides to stop purchasing of agricultural products in the US, the government will try to compensate the losses to the farmers.
He also pointed out that the tariffs proposed additional on $ 300 billion of chinese products does not constitute for the moment a proposal, and that nothing is confirmed.
Mnuchin has also indicated that if these new taxes were to be applied, the government will take account of the consumer products to define exemptions.
Always about these potential new tariffs, the secretary of the US Treasury has announced that nothing would be decided before 30 to 40 days.
Finally, it will be recalled that Mnuchin had said earlier today that there are currently no plans of travelling to China to continue negotiations.