Mnuchin says Trump could ease Huawei restrictions
Treasury secretary says president might change plan if there is progress in talks
US Treasury Secretary Steven Mnuchin has signalled that Donald Trump might ease restrictions on Huawei if progress is made in the trade battle with China.
Mnuchin said on Sunday: “I think what the president is saying is, if we move forward on trade, that perhaps he’ll be willing to do certain things on Huawei if he gets comfort from China on that and certain guarantees.”
However, as he spoke at a G20 finance ministers meeting in Fukuoka, Japan, Mnuchin added that without a deal, Trump will maintain tariffs to cut its deficit. He explained: “If China doesn’t want to move forward, then President Trump is perfectly happy to move forward with tariffs to rebalance the relationship.”
Subscribe to The Week
Escape your echo chamber. Get the facts behind the news, plus analysis from multiple perspectives.
Sign up for The Week's Free Newsletters
From our morning news briefing to a weekly Good News Newsletter, get the best of The Week delivered directly to your inbox.
From our morning news briefing to a weekly Good News Newsletter, get the best of The Week delivered directly to your inbox.
With the standoff continuing between Washington and Beijing over trade, the US has accused the Chinese telecommunications giant Huawei of spying and stealing intellectual property. The company strongly denies the claims.
Nevertheless, Trump has blacklisted Huawei, effectively banning US firms from doing business with it. Moreover, hw has also pressured allies to follow suit, with reports that he planned to tell Theresa May he might limit US intelligence sharing with the UK if Britain allows Huawei to be a part of the country's 5G network.
However, despite predictions of major fireworks over the issue during Trump’s recent visit to the UK, the US President was “all smiles and warm words” over the issue, according to Sky News.
Asked at a joint press conference with Theresa May whether he would limit intelligence sharing, Trump said: “No, because we are going to have absolutely an agreement on Huawei and everything else... we have an incredible intelligence relationship and we will be able to work out any differences.”
Meanwhile, the trade tensions between the US and China continue. Trump has imposed and then tightened import tariffs on Chinese goods in a bid to reduce America’s trade deficit and combat what he describes as unfair trade practices.
Create an account with the same email registered to your subscription to unlock access.
Sign up for Today's Best Articles in your inbox
A free daily email with the biggest news stories of the day – and the best features from TheWeek.com
-
'A speaker courageous enough to stand up to the extremists in his own party'
Instant Opinion Opinion, comment and editorials of the day
By Harold Maass, The Week US Published
-
How could the Supreme Court's Fischer v. US case impact the other Jan 6. trials including Trump's?
Today's Big Question A former Pennsylvania cop might hold the key to a major upheaval in how the courts treat the Capitol riot — and its alleged instigator
By Rafi Schwartz, The Week US Published
-
Today's political cartoons - April 18, 2024
Cartoons Thursday's cartoons - impeachment Peanuts, record-breaking temperatures, and more
By The Week US Published
-
What RFK Jr.'s running mate pick says about his candidacy
Talking Points Robert F. Kennedy Jr.'s' running mate brings money and pro-abortion-rights cred to his longshot presidential bid
By Harold Maass, The Week US Published
-
New York may seize Trump's assets for $450M penalty
Speed Read The former president likely owes $600 million from two civil judgments in New York
By Peter Weber, The Week US Published
-
What Trump's New York fraud conviction means for his business empire
Speed Read A New York judge has ordered many of Trump's companies to be placed into receivership and dissolved, but questions remain
By Peter Weber Published
-
Judge says he can compel Rupert Murdoch to testify in Fox News defamation trial
Speed Read
By Catherine Garcia Published
-
Just days after announcing presidential candidacy, Trump helms real estate deal with Saudi company
Speed Read
By Justin Klawans Published
-
The daily business briefing: November 4, 2022
Business Briefing Twitter employees brace for job cuts, New York judge orders monitor for Trump's business, and more
By Harold Maass Published
-
Court appoints outside monitor to oversee Trump's business during New York attorney general lawsuit
Speed Read
By Peter Weber Published
-
Vince McMahon paid $5 million in unrecorded expenses to Trump's charity, WWE board finds
Speed Read
By Brendan Morrow Published