Treasury Secretary Steven Mnuchin weighs in on the ongoing trade talks with China saying the negotiations are close to completion.
Mnuchin made the remarks at a conference in Los Angeles Sunday saying, “We’re getting into the final laps” of the trade talks.
The treasury secretary continued by touting the progress made by both the U.S. and China suggesting both sides are eager to reach a deal.
This comes months after President Trump enacted tariffs targeting $250 billion worth of Chinese products as bilateral trade tension continued to mount.
China has been criticized in the past by American officials for various issues including intellectual property and technology transfer.
“We will be very aggressive in these trade talks. Very aggressive,” National Economic Council Director Larry Kudlow discussed U.S.-China trade talks on @SquawkStreet today. https://t.co/tTvF1ZoVyo pic.twitter.com/oOjWMehmUC
— CNBC (@CNBC) April 26, 2019
Both Steven Mnuchin and U.S. Trade Representative Robert Lighthizer are expected to travel to Beijing to continue negotiations Tuesday.
Reports claim the duo will focus on specific enforcement mechanisms for the pending deal to ensure it remains solidified for the long-term.
Mnuchin has previously suggested the two sides may be contemplating having “enforcement offices” in an effort to verify the deal’s stipulations are being met and abided by.
Trade talks between the U.S. and China continue this week and both sides are “pretty close” to a breakthrough, says Borge Brende, the president of the World Economic Forum https://t.co/wzeQKRRMRK pic.twitter.com/fsrcy1R6EL
— CNBC International (@CNBCi) April 29, 2019
The White House is set to welcome Chinese Vice Premier Liu He in early May in hopes of wrapping up the continued trade negotiations.