Tags: Trump Administration | mnuchin | economy | G7

Mnuchin: US Economy 'Bright Spot In The World'

steven mnuchin walks across the white house lawn
Treasury Secretary Steven Mnuchin (Mark Wilson/Getty Images)

By    |   Sunday, 25 August 2019 10:19 AM

Treasury Secretary Steven Mnuchin said Sunday all leaders gathered at the G7 Summit in France are talking about the U.S. economy as “the bright spot in the world.”

In an interview with “Fox News Sunday,” Mnuchin said the leaders at the G7 meeting want to replicate” the economic policies of President Donald Trump and his administration.

“The single biggest thing that everybody is talking about here in France is the U.S. economy,” he said. “It’s the bright spot in the world. We have growth. People are not talking about doing tax cuts and cutting regulations in Europe, so people are looking at the Trump economic policies and wanting to replicate them."

He also touted upcoming announcements on trade.

“As it relates to uncertainty, there's only one area, and that's trade,” he said. “We are close to having a major announcement with Japan. We expect to have USMCA passed in the next month or two. That's going to add a significant amount to U.S. growth and growth in Mexico and in Canada. ... So these trading relationships are going to add significantly to growth and we are still somewhat hopeful that China will come around and enter into a fair, good deal with us."

Mnuchin also weighed in on Trump’s controversial tweet asking who was the bigger enemy of the country, Chinese leader Xi Jinping or Federal Reserve Chair Jerome Powell.

“He was very clear that President Xi is still his friend, he has a very good relationship with President Xi,” he said, adding: “We worked on lots of different things together, but as it relates to financial issues and trade, we have become enemies. We are not making progress."

He declined outright to comment on Powell, a frequent target of criticism by Trump.

“I don't think it was a literal comment that he is an enemy, but you know my position on the Fed… as my role as Treasury Secretary, I don't comment specifically on the Fed. "

Mnuchin also said Trump also shouldn’t be taken literally on his “order” that U.S. businesses leave China.

“He would have the authority to do that if he declared an emergency. He has not done that,” Mnuchin said. “I think what he was saying is he's ordering companies to start looking... we want them to be in places where they are trading partners that respect us and trade with us fairly."

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Treasury Secretary Steven Mnuchin said Sunday all leaders gathered at the G7 Summit in France are talking about the U.S. economy as "the bright spot in the world."In an interview with "Fox News Sunday," Mnuchin said the leaders at the G7 meeting want to replicate" the...
mnuchin, economy, G7
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2019-19-25
Sunday, 25 August 2019 10:19 AM
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