Mnuchin: US will keep in place tariffs on chinese imports for now – Reuters

Reuters reports that US Treasury Secretary Mnuchin says tariffs will stay in place until there’s a phase 2 of China trade agreement.

Key notes

• Mnuchin says trump may consider removing tariffs under phase 2.
• Mnuchin says china has made strong commitments it will not manipulate currency.

US Treasury Secretary Steven Mnuchin said on Tuesday the united states would keep in place tariffs on Chinese goods until the completion of a second phase of a US-China trade agreement. "These tariffs will stay in place until there is a phase 2. If the president gets a phase 2 in place quickly, he'll consider releasing tariffs as part of phase 2," Mnuchin told reporters,

– Reuters reports.

FX implications

• AUD/USD weighed on prospects of phase-one deal detail disappointment