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Tuesday, April 20, 2021
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US Economy is the “Bright Spot in the World”

US Treasury Secretary Steven Mnuchin said Sunday all leaders gathered at the G7 Summit in France are talking about the US economy as “the bright spot in the world.”

In a TV interview Sunday Secretary Mnuchin said the leaders at the G-7 meeting want to “replicate” the economic policies of President Trump and his administration.

“The single biggest thing that everybody is talking about here in France is the US economy,” he said. “It is the bright spot in the world. We have growth. People are not talking about doing tax cuts and cutting regulations in Europe, so people are looking at the Trump economic policies and wanting to replicate them.”

He also spoke about upcoming announcements on trade.

As it relates to uncertainty, there’s only 1 area, and that’s trade,” he said. “We are close to having a major announcement with Japan. We expect to have USMCA passed in the next month or 2. That’s going to add a significant amount to US growth and growth in Mexico and in Canada. … So these trading relationships are going to add significantly to growth and we are still somewhat hopeful that China will come around and enter into a fair, good deal with us.

On American businesses looking for alternatives to China

Secretary Mnuchin said President Trump also should not be taken literally on his “order” that US businesses leave China (yet).

“He would have the authority to do that if he declared an emergency. He has not done that,” Secretary Mnuchin said. “I think what he was saying is he’s ordering companies to start looking… we want them to be in places where they are trading partners that respect us and trade with us fairly.”

Have a terrific week

America First!

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