World News

U.S. not considering suspending tariffs on China in response to coronavirus: Mnuchin

WASHINGTON (Reuters) – U.S. Treasury Secretary Steven Mnuchin on Tuesday said the United States was not considering lowering tariffs on goods from China in response to the fast-spreading coronavirus, but would look at all options as the situation evolved.

“We’re not considering that at the moment, but as this progresses … we’ll look at all the options that we think are important to help particularly SMEs and particular areas of the economy that are impacted by this,” Mnuchin told a hearing of the House Ways and Means Committee.

He said a task force at the U.S. Treasury was looking at the situation of SMEs, or small- and medium-sized businesses hit by the outbreak, and could present specific recommendations to help those businesses.

(Reporting by Andrea Shalal and Lucia Mutikani; Editing by Chizu Nomiyama)