TELETRADER News
1/16, 12:33 AM (Source: TeleTrader)
more TeleTrader news

Mnuchin: China deal to add 50-70bps to GDP

Treasury Secretary Steve Mnuchin said that the United States-Mexico-Canada Agreement and the phase one trade deal with China combined will offset losses from Boeing in the GDP and add 50 to 75 basis points.

Speaking to Fox News, Mnuchin said there are still a lot of issues to cover in phase two but that "significant tariffs" will remain in place as an incentive to get the deal done.

Earlier in the day, President Donald Trump signed the deal with Beijing on trade, stating that it is "a momentous step, one that has never been taken before with China, towards a future of fair and reciprocal trade."

Breaking the News / JC