According to reporting by Bloomberg, Treasury Secretary Steven Mnuchin is apparently a big fan of easing tariffs on China, while US Trade Representative Lighthizer is far cooler on the idea.
Key quotes
Neither Mnuchin nor Lighthizer has made any recommendations with respect to tariffs or other parts of the negotiations with China, according to a Treasury spokesperson working with the administration’s trade team who characterized the talks as an ongoing process.
Stocks initially surged after the report, before paring gains after the Treasury’s denial was published.
The report comes after China confirmed that Vice Premier Liu He will travel to Washington at month-end for a new round of trade talks. President Donald Trump has pledged to hike tariffs on Chinese goods if the two sides can’t negotiate a sweeping trade deal by March 1.
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