British Reuters revealed that US Treasury Secretary Steven Mnuchin said he did not expect the coronavirus outbreak to have a significant impact on the first phase of the US-China trade agreement.
US fiscal minister mnuchin said he would keep an eye on the rapidly spreading epidemic but did not identify it as a risk of a global economic downturn. (Pictured: Sarah Silbiger/Getty Images)
Financial officials from the world`s 20 largest economists said on sunday they would keep an eye on the rapidly spreading epidemic, but did not identify it as a risk of bringing global economics down.
As the number of new cases rises sharply in iran, italy and south korea, even in the saudi capital of riyadh, they can still feel the growing fear of the spread of coronavirus.
Mnuchin told reuters that he hoped people wouldn`t jump to conclusions about how much of what he called the "human tragedy" would hit the world`s economic and corporate supply chains.
Mnuchin said the epicenter was in China, but Washington still believes that China will honor its commitments made in bilateral trade agreements to purchase U.S. goods and services.
UK Reuters revealed that US Treasury Secretary Steven Mnuchin said he did not expect the coronavirus outbreak to have a significant impact on the first phase of the US-China trade agreement. US Treasury Secretary Mnuchin said he would pay close attention to the rapidly spreading epidemic, but did not identify it as a risk that the global economy would decline. (Image source: SarahSilbiger / GettyImages)...
"Obviously, as the situation develops, this situation may change. In the next few weeks, we will have a more accurate assessment as data on the rate of transmission of the virus increases. "
Mnuchin acknowledged that the outbreak might delay further trade talks with beijing and the start of the second phase of negotiations, but said he was not worried.
"It would be good if we agreed before the election," he said. If the deal was reached after the election, that would be good. Either way, we have no pressure whatsoever. "He`s referring to the November 3 presidential election that President Donald Trump is seeking re-election to.
Mnuchin said in a separate news conference that the new crown pneumonia could have some short-term impact on the supply chain. But he warned that this view could increase concerns about globalization. He added that big companies have been working to assess risks and adapt their supply chains accordingly.
