"The US economy has not seen any negative impact yet due to trade tensions," he said during a testimony before the House Financial Services Committee on Thursday.
The Treasury Secretary said he was discussing concerns about job losses due to customs duties, adding that he was "watching with great caution" the impact of uncertainty on investments.
Menuchin said he believed Harley-Davidson had already planned to transport some of its motorcycle production abroad before the European Union imposed tariffs on imported bicycles in response to US fees.
On the other hand, "Menuchin" said that narrowing the gap between the yield of two-year Treasury bonds and the counterpart for 10 years is not a sign of economic downturn.
The yield curve was any difference between short-term, long-term debt and the lowest level since August 2007.
The United States has recently taken protective measures by imposing tariffs on steel and aluminum charges, as well as charging and threatening Chinese goods.
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