Treasury Secretary Steven Mnuchin on Wednesday appeared on CNBC to confirm he and many other U.S. officials will travel to Beijing, China for another round of trade talk with President Xi and his officials.
Treasury Secretary @stevenmnuchin1 is going to Beijing next week to work on a trade deal: "We are very focused on free and fair trade for U.S. companies to have access there and to have a more level playing field which will bring down the trade deficit." pic.twitter.com/hhmQvx5nDU
— Squawk Box (@SquawkCNBC) February 6, 2019
China and the U.S. have set a March 1st deadline to reach an agreement in their trade dispute.
President Trump has said he will increase U.S. tariffs on $200 billion in Chinese imports from 10 percent to 25 percent if a deal isn’t reached by that point.
Mnuchin describes his work with China as very productive and President Trump had this to say at his State of the Union speech,”I have great respect for President Xi, and we are now working on a new trade deal with China, but it must include real, structural change to end unfair trade practices, reduce our chronic trade deficit, and protect American jobs.”