Mnuchin Warns Of Tariffs Hike If China Deal Fails

October 14, 2019 Trump Administration, Trump Lies

Treasury Secretary Steven Mnuchin warned of a coming tariff hike if China does not finalize the specifics of a newly negotiated partial trade deal announced by President Donald Trump last week.

The tariffs on 15% of $160 billion worth of Chinese goods impacting consumer electronics– cellphones, laptops, toys–would go into effect by Dec. 15. It was previously unclear whether the December tariffs would go into effect, given that both the U.S. and China are actively engaged in trade talks.

“I have every expectation that if there’s not a deal, those tariffs would go in place,” said Sec. Mnuchin on CNBC. “But I expect we’ll have a deal.”

U.S. Treasury Secretary Steven Mnuchin says that an additional round of tariffs on Chinese imports will likely be imposed if a trade deal is not reached by Dec. 15 pic.twitter.com/IGr2JDIboe

— Reuters Business (@ReutersBiz) October 14, 2019