U.S. Treasury Secretary Steven Mnuchin said that if China presents enough trade concessions to President Donald Trump, there's a chance the administration may lift all tariffs.
"Everything is on the table," Mnuchin said early Tuesday during an interview on Fox Business Network. The Treasury chief is set to meet with top Chinese officials in Washington on Wednesday and Thursday alongside U.S. Trade Representative Robert Lighthizer about a month before the U.S. is set to escalate its trade war with China with fresh tariffs.
Trump and China's Xi Jinping gave their officials until March 1 to work out a deal on "structural changes" to China's economic model. If they fail, Trump has promised to raise the tariff rate on $200 billion in Chinese imports to 25 percent from 10 percent. The collapse of talks would dash hopes of a lasting truce that would remove one of the darkest clouds hanging over the world economy.