Sina Financial News Beijing time on the morning of April 23rd, US Treasury Secretary Steven Mnuchin and IMF President Christine Lagarde discussed the economic policy of the new US government. Tax reform and deregulation are the two major economic reform tasks of the Trump administration in the future. On trade issues, the Trump administration is willing to work with trading partners that support a mutually beneficial and win-win relationship, and the US market welcomes investment from all over the world.
Nuchin said that the future growth of the US economy is good, with GDP growth surging to 3.0 per cent in the first quarter of 2017 from 1.9 per cent in the fourth quarter of 2016, a significant figure.
The two major economic reform tasks of the new government are mainly to implement tax rectification and deregulation. The Trump administration team plans to release the tax reform bill in the near future and says it will implement tax rectification measures in the new tax reform. The simpler tax law system after the tax reform will not only provide greater convenience for individuals to file tax returns, but also more conducive to economic development.
Trump's economic reform is committed to improving the living standards of middle-class people in the United States, while a convenient tax system will have a great impact on the lives of middle-class people. And Nuqin believes that tax reform will pay off in the short term, and the economic benefits generated by the reform can quickly make up for the upfront expenses.
Nuchin believes that after the 2008 economic crisis, the over-strict regulatory system in the United States is not conducive to the maintenance of economic development in the United States. The Trump administration will gradually relax regulation in all areas without affecting economic stability.
The main economic task of the new administration is in line with Trump's campaign to create more jobs in the United States and improve the employment environment for the American middle class. Nuchin said that since taking office, Trump has held talks with hundreds of giants in business, technology, manufacturing and other fields, hoping to improve the innovation capability of various industries and create new opportunities for economic development.
Nuchin believes that the Trump administration is willing to work with trading partners that support a mutually beneficial and win-win relationship, and the US market also welcomes investment from all over the world. Open and mutually beneficial trade will contribute to the growth of the international economy, and moderate competition will also help to build a good trade environment.