Mnuchin on US-China trade talks: We are getting 'into the final laps'

Mnuchin on US-China trade talks: We are getting 'into the final laps'
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Treasury Secretary Steven MnuchinSteven Terner MnuchinThe Hill's Morning Report: How will Trump be received at G-7? White House won't move forward with billions in foreign aid cuts Trump says he'll decide on foreign aid cuts within a week MORE said Sunday that trade talks between the U.S. and China are entering their final stages.

“We’re getting into the final laps,” Mnuchin told The New York Times on the sidelines of the Milken Institute Global Conference in Los Angeles.

“I think both sides have a desire to reach an agreement,” he added. “We’ve made a lot of progress.”

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Mnuchin and U.S. Trade Representative Robert LighthizerRobert (Bob) Emmet LighthizerOn The Money: Economy adds 164K jobs in July | Trump signs two-year budget deal, but border showdown looms | US, EU strike deal on beef exports Chinese, US negotiators fine-tuning details of trade agreement: report The Trump economy keeps roaring ahead MORE are heading to Beijing this week in hopes of finalizing a deal to end the extended economic dispute.

Last year, President TrumpDonald John TrumpThe Hill's Campaign Report: Democratic field begins to shrink ahead of critical stretch To ward off recession, Trump should keep his mouth and smartphone shut Trump: 'Who is our bigger enemy,' Fed chief or Chinese leader? MORE imposed steep tariffs on $250 billion worth of Chinese imports in a bid to pressure Beijing on a range of issues including intellectual property and technology transfer.

The two nations exchanged tit-for-tat tariffs throughout 2018, but have been engaged in trade talks this year, most recently with negotiators from both sides meeting several times.

Trump said last week that Chinese President Xi Jinping could soon be visiting the U.S., signaling to some that negotiations could be reaching their close.

Mnuchin declined to discuss specifics about the timing of a deal with the Times.