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Mnuchin on CNBC this AM
Will increase US exports to China significantly
Discussed lowering tariffs with China
US team is unified on US-China trade talks
Trump did not dictate any terms of US review of ZTE
Both US and China have agreed to suspend tariffs
This is a trade dispute with China, it was never a war
US could increase energy exports to China under agreement
US-China talks have to be turned into binding agreements with companies
US commerce secretary Wilbur Ross is to travel to China to put framework in place
Some parts of agreement will take time, some can be put in place immediately
If we don’t get what we want on China trade, Trump can put tariffs back on
Economic growth this year to be very strong
There is still some significant, open issues over NAFTA
We’ll see where we get on NAFTA talks in the next few weeks
Still trying to get a new deal done
Still focused on new NAFTA deal that Congress would have to approve
But could consider a possible ‘skinny’ deal instead of full-on NAFTA agreement
A strong US dollar is good for the US in the long-term
US well on its way to 3% or higher sustained growthWhite House to put tariffs on smaller list of China products tomorrow says CNBC
Says 800-900 products will have tariffs instead of 1300 as first published
The total is likely less than the $50 billionQuestion is where does this sit in the overall discussion?
Markets get a reprieve SPX futures bounce 15 handles after Trump decides against toughest measures on China investments
Reuters reports according to a senior administration official
Trump won’t invoke national emergency law on China
Trump to use CFIUS to respond to China’s technology theft
CFIUS is best approach to protect US technologyUS Treasury secretary Steven Mnuchin on CNBC TV
Changes to CFIUS is an attempt to strengthen investment controls
No significant economic impact to arise from the decision
Not singling out China Certain countries will receive heightened review under changes to CFIUS
If Congress doesn’t pass CFIUS legislation quickly, Trump can direct Treasury through an executive order to apply the same provisions
Expect a “big” Q2 GDP number
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