US Treasury Secretary Mnuchin: Trump administration promotes trade and tax policy reforms targeting manufacturing industry relocation and fiscal revenue win-win.

U.S. Treasury Secretary Steven Mnuchin said on Tuesday that the Trump administration's trade policy is aimed at achieving two objectives: long-term tariff revenue and new trade agreements. He stressed that imposing tariffs will drive manufacturing back to the United States and bring in "substantial fiscal revenue" for the government. Mnuchin pointed out that Asian trading partners are currently actively engaged in negotiations and hinted that agreements with India and South Korea may be announced soon. He said, "I think we are very close to a deal with India... negotiations are progressing well." When asked about negotiations with China, Mnuchin refused to disclose specific details, only saying, "I won't comment on who is talking to whom." Meanwhile, White House press secretary Caroline Levitt said President Trump considers Amazon.com, Inc.'s recent practice of marking tariff impacts on product pricing as "hostile and politically motivated." Mnuchin stated at the press conference that President Trump is currently employing a strategy of "strategic uncertainty" to secure more favorable trade agreements. "Uncertainty is not necessarily a bad thing in negotiations." Mnuchin expects the new tariff policy not to have an impact on the supply chain. He also added that the upcoming tax reform bill will provide companies with "clear investment expectations." "This tax reform bill will provide a strong push for domestic investment," he said, revealing that the bill will be retroactive to January 20th of this year, allowing companies to fully deduct expenses for building manufacturing capacity in the United States. Regarding exemptions for auto tariffs, Mnuchin did not disclose specific details but stated that the policy aims to "encourage the return of car manufacturing to the United States." The White House indicated that President Trump will sign relevant executive orders later on Tuesday. Furthermore, Levitt said that Congress is "very close" to passing what President Trump calls a "great and beautiful budget." Overall, the press conference on fiscal and trade policies highlights the Trump administration's strong emphasis on reshoring domestic manufacturing, fiscal independence, and leveraging trade negotiation leverage. Mnuchin also revealed that progress on the tax reform bill is "much better than expected," sending positive signals to the market.