US proposals to drop trade barriers taken seriously by allies: Mnuchin

[BUENOS AIRES] US Treasury Secretary Steven Mnuchin said on Sunday that G-7 industrial powers were taking seriously his call for them to drop tariffs, non-tariff trade barriers and subsidies and added the Trump administration would press these issues in upcoming talks with the European Union's top executive.

Mr Mnuchin said at the close of a G-20 finance leaders meeting that President Donald Trump's trade stance was not about protectionism but wanting free and fair trade for the United States.

"We very much support the idea that trade is important to the global economy, but it's got to be on fair and reciprocal terms," Mr Mnuchin told a news conference.

REUTERS