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  Treasury Secretary Mnuchin Press Briefing  CSPAN  October 11, 2019 1:45pm-1:55pm EDT

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be focused on raising money or they can't be focused on reelection. , an the senate came out congressman spent 1.5 million hours raising money. how would the first three years ?f the term be spent listening to constituents or doing committee work or building relationships and sometimes relationships on the others of the aisle. we have to get to a point where people do believe d.c. can work. i think self-serving lee, i will acknowledge that maybe the way to do that is to do somebody -- get somebody from outside of d.c. because d.c. has become a place where talking has become a substitute for doing, or wasn't that a great speech along the way? a place where in 20 years they haven't balanced a budget on time. >> all of this event is
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available online. we take you live to the white house for a briefing with treasury secretary steven mnuchin. >> a new executive order gives the treasury department in consultation with themselves and secretary pompeo very significant new sanctions authorities that can be targeted at any person associated with the government of turkey, any portion of the government, this will be both primary sanctions and secondary sanctions that will be applicable. the resident is concerned about the ongoing military offensive and potential targeting of civilians, civilian infrastructure, ethnic and religious minorities, and the president also wants to make very clear it is imperative that turkey not allow even a single isis fighter to escape.
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again, i want to emphasize at this point we are not activating the sanctions but as the president has said, he will provide very significant authorities based upon the continuing efforts. so he will be signing this and they will be active and we will be working in consultation the department of defense and department of state to monitoring this very quickly. we are putting financial institutions on notice that they should be careful and that there could be sanctions. again, there are no sanctions at this time but this will be the authority- executive awarded us. about there any concern what led to this and can you tell us when would you put new sanctions in? : he does notchin think his actions are what led to this. it is a complicated situation
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and a situation we are all concerned about. there are very clear it discussions that will be going on between the department of defense and the state department . i just got off of the phone with the finance minister and we will be communicating specifics. >> can you tell us about the chinese trade negotiations. is it possible about getting to the end of the day with no new specific deal agreed to or what we have a deal? secretary mnuchin: we had a productive two days of discussions with the vice premier and others. we will be meeting with the president shortly and updating him on those and he will meet with the vice premier. i would not be surprised like
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usual that he invites a few of you in but i will not make another, in advance of the meeting with the president. >> the stock market is optimistic of what they see it out at right to be optimistic? secretary mnuchin: the stock market is always right. i am not going to make any more comments. we have had a productive two days of discussions and will be making more announcements after we meet with the president. >> so far, turkey has not been dissuaded by anything this administration has done or the president has said here what makes you confident the announcement you just made is going to change turkey? secretary mnuchin: i do not agree with your prominence -- your premise. i am not going to comment on got -- discussions going on. i don't think that is a good promise. these are very powerful
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sanctions paired we hope we don't want to use them but we can shut down the turkish economy if we need to. >> how does the threat of sanctions help the u.s. allies? secretary mnuchin: it is a complicated military situation that is ongoing. i think the president has had very specific questions. -- discussions. wes is a way of making sure protect the humanitarian issues and the other people on the ground. are things still staying the same or have they changed? secretary mnuchin: i have not heard anything one way or the other. >> what kind of consultations are you having with lawmakers like lindsey graham who has been very critical of the pull out of troops?
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secretary mnuchin: secretary pompeo has been speaking to them multiple times a day. is, issage to congress know people were contemplating sanctions and the president will use them when necessary. thank you, everybody. yelling] here is a look at our prime time schedule on the c-span networks. at 8:00 p.m. eastern on c-span, live coverage of president trump holding a campaign rally in lake charles, louisiana. on c-span two, it is book tv with authors who have appeared on our "in-depth" series. on c-span3, american history tv with programs looking at the u.s. automobile industry. and tomorrow, more from
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