DAVOS: Italian Economy Minister Pier Carlo Padoan said on Thursday he was more concerned about countries disagreeing over trade than over currencies, after the US Treasury Secretary said a weak dollar was good for the world's largest economy.
"What I am more concerned about is not so much the possibility of a currency war, I am much more concerned about the possibility of a looming trade war," Padoan told Reuters at the World Economic Forum in Davos.
Earlier on Thursday, US Treasury Secretary Steve Mnuchin played down his previous comments on the dollar, which had sent the US currency reeling the day before.
Asked whether he was worried by what Mnuchin's original comments, Padoan replied, "There is a concern if this goes beyond what is acceptable, but I am not so much concerned."
Padoan added that he respected Britain's decision to leave the European Union, but said a country was either a member of the bloc or it was not, and "ambiguous conditions in between are not acceptable".
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