Mnuchin: Overall US economy not harmed by trade battles

US Treasury Secretary Steven Mnuchin said today that the overall US economy has not been harmed by the trade battles set off by President Donald Trump's get-tough policies although some individual sectors have been hurt.

He said the administration was exploring ways to help farmers and other specific industries that have been affected.

Mnuchin spoke to reporters on the sidelines of meetings of finance ministers and central bank presidents from the Group of 20 nations, composed of traditional economic powers such as the United States, Japan and Germany and emerging economic powers including China, Brazil, India and Argentina.

Mnuchin said that there had not been an adverse effect on overall growth from the tariffs but that certain industries were being harmed because other countries were retaliating by targeting specific industries.

"Certain countries have targeted very specific levels of things that are not coincidental," Mnuchin told reporters. "So if you are looking at lobsters in Maine or you are looking at bourbon in Kentucky or you are looking at soybeans, there are clearly markets being followed."