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US can hike tariffs if China not meeting trade deal agreement: Treasury's Mnuchin

US Treasury Secretary Steven Mnuchin said on Wednesday that President Donald Trump administration can still hike tariffs if China failed to meet up with the trade deal agreement.

Under terms of the mini pact, which eases a two-year standoff that has jolted the global economy, the White House is to cut in half tariffs imposed September 1 on $120 billion of Chinese goods and cancel a second round set for December 15. In return, Beijing has pledged vast sums to buy US products including pork and soybeans.

Still, the next round of negotiations is expected to be the toughest, with key issues including China's massive subsidies for state industry and forced technology transfer likely to prove key sticking points.

But AFP reports that , Treasury Secretary Steven Mnuchin denied a report that it could include provisions to roll back more levies on China after the presidential vote, with progress on phase two the key to measures being removed.

But he did tell Fox Business network: "I think phase one is an enormous step in the right direction."

Officials said full details would be made public after the signing ceremony in Washington.

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