Trump could renew tariff risk if Mexico does not assist border
Steven Mnuchin, Secretary of the Treasury of the US of America, throughout a G-20 assembly on June 08, 2019 in Fukuoka, Japan.
Florian Gaertner | Photothek | Getty Pictures
Treasury Secretary Steven Mnuchin stated Sunday that Washington is “very excited” about an settlement with Mexico to assist stem the move of immigrants trying to enter the U.S., however he warned that the White Home may renew its threats of punitive tariffs if it discovered itself unhappy.
That comes after U.S. President Donald Trump introduced on Friday that his group had reached an settlement with Mexico to “greatly reduce, or eliminate, Illegal Immigration coming from Mexico and into the United States.” In flip, the president withdrew his risk to position levies on Mexican items.
Mnuchin stated the deal — which The New York Occasions reported is basically comprised of actions Mexico had already agreed to take — represented an essential diplomatic step.
“We’re very excited about the Mexico agreement. We very much appreciate the government working with us on immigration — these are very important issues and they’ve made significant commitments,” he informed CNBC’s Nancy Hungerford.
“The immigration issue was a very serious issue, we couldn’t be more pleased that Mexico came to the table and negotiated an agreement, and because of that, we don’t need to put tariffs on them,” he added.
Nonetheless, the Treasury secretary recommended that Trump may readily reinstate his tariff risk if he deems it vital.
“I have every reason to believe they will meet their commitments, so I think that will be the case, but if for whatever reason they don’t, the president reserves the right to put on tariffs,” Mnuchin stated, echoing feedback that had beforehand been reported by Reuters.
The Trump administration official additionally addressed the complaints that some have made about mixing tariffs — a tax on commerce — with non-trade points. He, for one, recommended there was no downside in utilizing such levies to deal with a spread of issues.
“I think it’s very important that we have all these tools, that we use them,” Mnuchin stated. “And President Trump has really done a great job in using these tools.”