US sees no material impact from virus on US-China trade deal - for now

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U.S. Treasury Secretary Steven Mnuchin told Reuters he does not expect the coronavirus outbreak to have a material impact on the Phase 1 ...

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RIYADH: US Treasury Secretary Steven Mnuchin told Reuters he does not expect the coronavirus outbreak to have a material impact on the Phase 1 US-China trade deal, although that could change as more data becomes available in coming weeks.

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."Obviously that could change as the situation develops. Within the next few more weeks, we'll all have a better assessment as there's more data around the rate of the virus spreading.

"If we get the right deal before the election, that's great. If we get the right deal after the election, that's great. We don't feel any pressure one way or another," he said, referring to the Nov 3 US presidential election, in which President Donald Trump is seeking reelection.

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