The US is open to facing “repercussions” if it doesn’t follow through on its commitments in a potential trade deal with China, said Treasury Secretary Steven Mnuchin, reported Bloomberg.
“There are certain commitments that the United States is making in this agreement, and there are certain commitments that China is making,” Mnuchin told reporters at IMF meetings in Washington.
“I would expect that the enforcement mechanism works in both directions, that we expect to honor our commitments, and if we don’t, there should be certain repercussions, and the same way in the other direction,” he said.
Mnuchin also said the two countries are making progress in talks to end their nine-month trade and tariff war, which has cast a cloud over global growth and financial markets.