US Treasury Secretary Steven Mnuchin suggested that Washington would gradually roll back its China tariffs during a staged negotiation of a phase two deal that may last beyond the 2020 US presidential election in November, reported Caixin.
Mnuchin said at a World Economic Forum event in Davos, Switzerland, on Wednesday that the US will start the phase two trade talks with China without mentioning a deadline.
“If we get that done before the election, great; if it takes longer, that’s fine,” Mnuchin said.
The phase two talks could be divided into several stages, he said. “We could easily have phase two (a), two (b), and two (c),” the Treasury secretary said. “It doesn’t need to be a Big Bang. And we take tariffs off along the way.”