U.S. Treasury Secretary: The Trump administration is open to reaching an agreement on lowering tariffs

ChainCatcher news, according to Jinshi reports, U.S. Treasury Secretary Mnuchin stated that the Trump administration is open to reaching an agreement on lowering tariffs and denied that the market sell-off led the White House to change its approach.

Reports indicate that Mnuchin visited Trump in Florida over the weekend, urging him to change the messaging regarding tariffs, which Mnuchin denied. He stated, "I want to say that negotiations are the result of a lot of calls coming in to negotiate." "This has nothing to do with the market."

Mnuchin said, "I think you will see some countries with large trade deficits stepping up soon." "If they come to the negotiating table with credible proposals, I think we can ultimately reach some good agreements."

Mnuchin added that even if an agreement is reached, some tariffs may remain unchanged.