US Treasury's Mnuchin tells International Monetary Fund to monitor currencies

Mnuchin added that while the administration is "looking closely" at the issue, "there is a consensus on the majority of where we are on tax reform".

In an interview with the Wall Street Journal published Thursday, Mnuchin admitted that passing complex tax legislation in less than six months was "an ambitious timeline" that the administration and Congress might not be able to meet.

"We are committed to tax reforms".

Last week the U.S. Senate voted to confirm former Goldman Sachs banker Mnuchin as Treasury Secretary, installing the Trump administration's point-man on tax reform, financial deregulation and economic diplomacy efforts.

"For us to have tax reform done by August is a very aggressive position and we are going to get it done", Mnuchin said in an interview with Fox Business.

He told both networks that he believed the tax reform plan would help the United States boost economic growth above 3 percent by late 2018 from 1.6 percent in 2016.

The Treasury secretary said cutting back regulations would be the other major initiative in the campaign to improve economic growth. "We want to make sure that banks can focus on customer business, that they can execute this with proper liquidity".

"We think there are some very interesting aspects of it".

While many U.S. manufacturers support such attacks, retailers vigorously oppose it, fearing it will raise prices for consumers and hammer their profits.

"For longer-term purposes, an appreciation of the dollar is a good thing, and I would expect longer-term, as you've seen over periods of time, the dollar does appreciate", Mnuchin told the WSJ.

Despite the Trump administration's focus on China, charging it with keeping the renminbi artificially low to make its exports more competitive - a charge many economists agreed with up until a few years ago - Beijing in recent years has instead been working to keep the currency's exchange rate from falling too low.

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