U.S. Treasury Secretary Steven Mnuchin says a 'Phase 2' trade deal with China will not necessarily be a "big bang."
At World Economic Forum in Davos on Tuesday, he said, the deal could remove *some tariffs, but not all.
As for a digital tax on American companies in Europe, Mnuchin warned that Italy and Britain will face U.S. tariffs if they go ahead with one.
Also at the forum,. Chinese Vice Premier Han Zheng said, the underlying trend of China’s economy is unchanged.
Beijing, he added, is opening its doors wider to the world, and he criticized trade protectionism.