💎 Fed’s first rate cut since 2020 set to trigger market. Find undervalued gems with Fair ValueSee Undervalued Stocks

U.S. officials see EU, British trade deals in 2020, not India

Published 01/23/2020, 09:57 AM
U.S. officials see EU, British trade deals in 2020, not India

(Reuters) - The Trump administration expects to secure trade deals with the European Union and Britain this year, but not India, top U.S. officials said on Thursday.

U.S. Commerce Secretary Wilbur Ross and U.S. Treasury Secretary Steven Mnuchin said in several television interviews that they expected to finalize agreements with those allies in 2020.

On Wednesday, President Donald Trump said he hoped to finalize a pact with Europe before he faces reelection in November.

"The president is very focused on trade and he's very focused on Europe," Mnuchin, speaking from the World Economic Forum in Davos, Switzerland, told CNBC, adding that a meeting between U.S. and European officials this week was "good."

"We're very focused on a UK free trade agreement, which we hope to get done this year as well," Mnuchin added.

Ross, speaking on Fox Business Network, echoed that sentiment on the timeline but said it was more complicated working with the EU, given the number of countries involved.

"Our working assumption is that it will not fail and that we will make a deal with them," Ross said, referring to the EU.

On India, Ross said that while the United States was eager to cooperate with the country and was in discussions, with more talks likely, a pact was unlikely in 2020.

"I very much doubt that would occur this year," he told Fox Business Network.

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.