American tariffs will remain in effect until the completion of the second stage

US Treasury Secretary Stephen Mnuchin told reporters that the US tariffs on Chinese goods will remain in effect until the completion of the second phase of the US-China trade agreement

"These tariffs will remain in effect until the second stage is agreed upon, as President Trump will reduce tariffs if the two largest economies in the world move quickly to conclude the second stage agreement," Manuchin stressed.

There are no agreements in place with China on further tariff reductions, and US President Donald Trump is scheduled to sign the first stage agreement of the trade deal with Chinese Vice Premier Liu He at the White House on Wednesday, Mannushin and U.S. Trade Representative Robert Lightizer added.