1.Treasury Secretary Steven Mnuchin doubled down on the White House’s latest salvo in the U.S.-China trade war by calling out Beijing for unfair trade practices.
2.The trade war between the world’s two largest economies intensified over the weekend, weakening U.S. stock futures and stocks in Asia.
3.At the G-7 meeting in France, President Donald Trump said he could declare the escalating U.S.-China trade war as a national emergency if he wanted to.
SAINT-JEAN-DE-LUZ, France — American Treasury Secretary Steven Mnuchin doubled down on the White House’s latest punch in the U.S.-China trade war by calling out Beijing for unfair trade practices.
“We do not have free trade with them,” Mnuchin said Sunday on the sidelines of the G-7 meeting in France. “It’s a one way street: They have free entrance into our markets, our investments, our companies and we do not have the same thing there. That’s the only reason why we are in this situation with China. If China would agree to a fair and balanced relationship, we would sign that deal in a second,” he added.
“Sometimes you’ve got to take stern measures,” White House economic advisor Larry Kudlow said alongside Mnuchin, adding that American companies should heed the president’s call to leave China.
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