Mnuchin: Trade deal possible with UK in a year
LONDON — U.S. Treasury Secretary Steven Mnuchin suggested Saturday that Britain and America would be able to conclude a trade deal this year, despite lingering disagreements on a digital services tax and whether to allow Chinese tech giant Huawei to build aspects of a new high-speed mobile network.
Britain leaves the European Union in less than a week, severing decades of frictionless trade with a market of 650 million. Replacing those trade ties with other postBrexit pacts is considered critical for the nation’s economy and future.
“I think the timing is important,” Mnuchin told an audience at the Chatham House think tank. “You know, we’re focused on trying to get this done this year because we think it’s important to both of us.”
Mnuchin stopped in the U.K. following the four-day World Economic Forum summit in Davos, Switzerland. He held talks with U.K.
Treasury chief Sajid Javid in both Davos and again in London on Saturday.
However, he declined to offer any details on what he described as the “ongoing” discussions with the British government on Huawei.
The United States is pushing Britain and other allies to ban Huawei from making parts of its 5G network, claiming it would be a security risk — something Huawei vehemently denies.