U.S. Treasury Secretary Steven Mnuchin says U.S. expects China to live up to its trade deal commitments.U.S. Treasury Secretary Steven Mnuchin told Reuters he does not expect the coronavirus outbreak to have a material impact on the Phase 1 U.S.-China trade deal, although that could change as more data becomes available in coming weeks.
Fears of a coronavirus pandemic mounted even as they met in the Saudi capital of Riyadh, with sharp rises in new cases reported in Iran, Italy and South Korea.Mnuchin, in an interview with Reuters late on Sunday, cautioned against jumping to conclusions about the impact of what he called a “human tragedy” on the global economy, or on companies’ supply chain decisions, saying it was simply too soon to know.
“I don’t expect that this will have any ramifications on Phase 1. Based on everything that we know, and where the virus is now, I don’t expect that it’s going to be material,” he said. Mnuchin met late on Sunday with Saudi Crown Prince Mohammed bin Salman, a senior U.S. administration official said, but gave no details about the meeting.
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