Mnuchin says U.S.-China decoupling will occur if firms can't compete fairly - WHTC News

Tuesday, June 23, 2020 3:34 p.m. EDT by Thomson Reuters

FILE PHOTO: United States Secretary of the Treasury Steven Mnuchin testifies before a Senate panel on Capitol Hill in Washington, DC, U.S. J

WASHINGTON (Reuters) - U.S. Treasury Secretary Steven Mnuchin said on Tuesday that a decoupling of the U.S. and Chinese economies will begin to occur if U.S. companies are not allowed to compete on a fair and level basis in China's economy.

Speaking at a virtual event sponsored by Bloomberg and Invesco, Mnuchin said he also had "every expectation" that China would live up to the terms of the Phase 1 trade agreement calling for a massive increase in Chinese purchases of U.S. goods, energy and services.

(Reporting by David Lawder; Editing by Sandra Maler)

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