The United States will maintain tariffs on Chinese goods until the completion of a second phase of a US-China trade agreement, said US Treasury Secretary Steven Mnuchin on Tuesday, the day before the two sides are to sign an interim deal, reported Reuters.
Mnuchin told reporters that President Donald Trump could consider easing tariffs if the world’s two largest economies move quickly to seal a follow-up agreement.
“If the president gets a Phase 2 in place quickly, he’ll consider releasing tariffs as part of Phase 2,” Mnuchin said.
Trump is slated to sign the Phase 1 trade agreement with Chinese Vice Premier Liu He at the White House on Wednesday at 11:30 a.m. (1630 GMT). The signing occurs a week before the US Senate is due to begin its impeachment trial of the US president.