US Treasury Secretary "Expect Trade Deal with UK to be Finalized Within the Year"

[Image source=Reuters Yonhap News]

[Asia Economy Reporter Jeong Hyunjin] Steven Mnuchin, the U.S. Secretary of the Treasury, expressed hope that trade negotiations with the United Kingdom ahead of Brexit (the UK’s withdrawal from the European Union) on the 31st could be concluded within this year.

According to CNBC and other outlets on the 23rd (local time), Mnuchin made these remarks to reporters in Davos, Switzerland, where he was attending the World Economic Forum Annual Meeting (WEF). He spoke before departing for London to conduct negotiations. While acknowledging that the deadline set for this year is a "definitely aggressive timetable," he emphasized that "UK-US negotiations are a priority for President Donald Trump."

Wilbur Ross, the U.S. Secretary of Commerce, also expressed expectations that, considering the close relationship between the UK and the US, negotiations with the UK could be concluded more smoothly than with the EU. Ross explained, "The economies of the UK and the US are very similar, so there are far fewer issues related to the UK than the EU."

Ross also said, "I hope to achieve a peaceful outcome with the EU." However, he warned, "The President is very firm about taking a different path if this does not happen," adding, "If negotiations fail, the option of imposing tariffs is not off the table."

Meanwhile, Mnuchin mocked Greta Thunberg, the teenage environmental activist, at the WEF, saying she "should go to college and study economics." When asked about Thunberg’s demand for an immediate and complete resolution of fossil fuel emissions, he joked, "Is she the chief economist? Who is she?" He added, "She should go to college, study economics, and then come back to explain it to us."

This remark appears to be mindful of the fact that Thunberg is known as an adversary of President Trump. Trump and Thunberg have repeatedly clashed over climate change issues. At this year’s WEF, Thunberg strongly criticized world leaders’ indifference to climate change, while President Trump denied climate change, stating, "Now is not the time to be pessimistic."