Open source
The U.S. Treasury Secretary Steven Mnuchin has proposed to create a free trade area among the G7 countries.
With this statement, Steven Mnuchin speaks during a meeting with colleagues from the G7 countries in Buenos Aires, Argentina, July 22, DW news agency reported.
«If Europe believes in free trade, we are ready to sign an agreement on duty-free trade relations,» – Mnuchin stressed.
At the same time, he noted that three conditions must be fulfilled: to drop tariffs, non-tariff trade barriers and subsidies.
French finance and economy minister Bruno Le Maire has responded, that the US should first to drop customs duties on steel and aluminum, as well as abandon the threat of imposing charges on the import of cars from EU countries
«We refuse to negotiate with a gun to the head,» – Le Maire declared.
Austrian State Secretary of Finance Hubert Fuchs, who was representing the EU Council at the meeting, in turn, supported Mnuchin’s proposal, noting that «even the US Treasury Secretary advocates fair and free trade.»
As The Journalist reported, European Union imposed duties on steel products.
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