Key members of the US government warned that America was preparing to intensify its measures to prevent what it sees as unfair trading practices around the world, but denied that this represented a slide towards a new form of “protectionism” which might damage the wider economy.
Speaking in Davos, Steven Mnuchin, Treasury secretary, told the Financial Times that he “absolutely” expected to see an acceleration of trade measures during 2018, and said the administration was tightly co-ordinated in pursuing tougher trade policies.
“The president has been very clear that where there are big trade imbalances, we want that addressed and fixed,” he said. “In this administration, we have excellent co-ordination on this issue . . . This is a policy issue the president is very focused on.”