The United States and China have largely agreed on a mechanism
to police any trade agreement they reach, including establishing new
“enforcement offices,” U.S. Treasury Secretary Steven Mnuchin said on
Wednesday, April 10.
Mnuchin, speaking on CNBC television, said that progress
continues to be made in the talks, including a “productive” call with China’s
Vice Premier Liu He on Tuesday night. The discussions would be resumed early on
Thursday, Washington time, he added.
“We’ve pretty much agreed on an enforcement mechanism, we’ve
agreed that both sides will establish enforcement offices that will deal with
the ongoing matters,” Mnuchin said, adding that there were still important
issues for the countries to address.
Mnuchin did not address whether the enforcement
structure would allow the United States a unilateral right to reimpose tariffs
without retaliation if China fails to follow through on its commitments.