U.S. Treasury's Mnuchin says phase-two trade deal may not remove all tariffs - WSJ

The phase-two trade deal with China would not necessarily be a "big bang" that removes all existing tariffs, U.S. Treasury Secretary Steven Mnuchin told the Wall Street Journal in an interview.

"We may do 2A and some of the tariffs come off. We can do this sequentially along the way," he added.

Mnuchin also warned that Italy and Britain will face U.S. tariffs if they proceed with a tax on digital companies like Alphabet Inc's Google and Facebook Inc, the newspaper said.