Treasury Secretary Steven Mnuchin told CNBC on Wednesday the U.S. and China were close to a trade deal, and he’s optimistic that progress can be made during weekend talks between President Donald Trump and China’s Xi Jinping.
“We were about 90% of the way there [with a deal] and I think there’s a path to complete this,” he told CNBC’s Hadley Gamble in Manama, Bahrain.
He said he’s confident Trump and the Chinese president can make progress in stalled trade talks at the Group of 20 meeting. “The message we want to hear is that they want to come back to the table and continue because I think there is a good outcome for their economy and the U.S. economy to get balanced trade and to continue to build on this relationship.”
“I’m hopeful that we can move forward with a plan,” Mnuchin told CNBC. “President Trump and President Xi have a very close working relationship. We had a productive meeting at the last G-20.”
MacDailyNews Take: Even if the only thing that comes out of the G-20 meeting is an agreement between the U.S. and China to actively resume talks, it’ll be good news!