US Treasury says Phase 2 trade deal may not remove all tariffs

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Mnuchin's warning to Italy, Britain comes after France backed out, pledged to avoid a trade war. FMTNews

Steven Mnuchin warned that Italy, Britain will face US tariffs if they proceed with a tax on digital companies.

“We may do 2A and some of the tariffs come off. We can do this sequentially along the way,” he added. Mnuchin’s warning to Italy and Britain comes after France backed out and pledged with the United States to avoid a trade war until at least the end of this year.

 

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