1. SOUNDBITE (English) Steve Mnuchin, Treasury Secretary:
"I think I've been pretty, pretty clear we've been monitoring this very carefully, we are sympathetic that there are micro markets which have been attacked specifically and we're dealing with those. But we haven't seen broad view, but I think the more important issue is we just concluded a very significant agreement yesterday. And as we've said we don't want tariffs, we want free and fair trade. So we're working on an agreement towards zero tariffs, zero non-tariff barriers and zero subsidies."(Reporter: Was anything agreed to yesterday or just an agreement to work toward an agreement?).
2. Cutaway of reporters
3. SOUNDBITE (English) Steve Mnuchin, Treasury Secretary:
"No absolutely there was an agreement in principle, the principles, we have we have an outline, the first phase of that. As we've said is to deal with the steel and aluminum tariffs, the reciprocal tariffs, will be part one, and then we are going to deal with, we have an outline as we talked about yesterday in agriculture and chemicals and medical devices and industrial LNG so we're going to make a lot of progress."
++SEPARATED BY WHITE FLASH++
3. SOUNDBITE (English) Steve Mnuchin, Treasury Secretary:
"There will be no new tariffs while we are negotiating, neither party can terminate that. And if we successfully conclude the agreement there would be no car tariffs on the EU. But let me tell you, the president is very focused on protecting the steel industry. I think it's very exciting, the expansion that there is in the U.S. and we're going to make sure we maintain our steel industry."
Treasury Secretary Stephen Mnuchin says addressing steel and aluminum tariffs and counter tariffs will be covered in the first phase of new negotiations between the United States and the European Union.
Mnuchin says President Donald Trump and his European counterparts reached an "agreement in principle" to avoid an escalation in their trade dispute.
He is reiterating that there will be no new tariffs imposed while the two parties are negotiating a final deal. He says if the US concludes an agreement, there will be no tariffs placed on foreign-made automobiles in the EU.
The Treasury secretary tells reporters at the White House that after steel and aluminum tariffs are resolved, talks will focus on agricultural issues, chemicals and natural gas.
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