10/12/2018, 1:26 PM (Source:
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Mnuchin: Not worried about China dumping Treasuries

United States Treasury Secretary Steve Mnuchin said on Friday he is not concerned about China potentially dumping US Treasuries in retaliation for tariffs on its goods. "There's lot of demand for Treasurys. If they decide they don't want to hold them, there are other buyers," he told CNBC on the sidelines of the International Monetary Fund annual meetings in Bali, Indonesia.

The Treasury Secretary reiterated Washington wants currency policy as part of a comprehensive trade deal with China. "Whatever we make up for on trade, we don't want to lose on currency," he underscored, before adding that recent data revealing China's record trade surplus with the US last month is probably due to "loading up in advance of the tariffs."

Mnuchin went on to state the administration "couldn't be happier with the performance of the US economy," and is already in active discussion with European partners and Japan over trade. "If China wants to make changes, we'll sit down and make a deal with them too," he concluded.

Breaking the News / JC