Steve Mnuchin on Free Trade
Secretary of the Treasury Steven Mnuchin: "The US-Mexico-Canada deal will open markets and create economic opportunities for workers and businesses across North America. Modernizing this agreement rebalances our important trade partnerships and will boost economic growth for our three nations."
MNUCHIN: Actually, I said our expectation is that we don't think there will be a trade war. Our objective is to continue to have discussions with China. We want to have free and fair, reciprocal trade. We're just looking for our companies and our workers to have a level playing field. And right now, we have about $500 billion of goods that we buy from China and they buy about $135 billion from us.
Q: This has caused such nervousness in the markets--
MNUCHIN: The markets have had a lot of volatility in general. The market is still up a tremendous amount since the election. The tax plan is kicking in. Our regulatory relief is kicking in. Trade has always been the third part of our agenda. But let me just put this in perspective. If we can open up their $10 trillion economy for us to compete fairly, this is one of the single biggest opportunities long term for U.S. companies.
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