Mnuchin says US-China trade deal will have real structural commitments, but still more work to do

Treasury Secretary Steve Mnuchin speaks with reporters outside the White House, Wednesday, Feb. 6, 2019, in Washington.










Evan Vucci | AP

Treasury Secretary Steve Mnuchin speaks with reporters outside the White House, Wednesday, Feb. 6, 2019, in Washington.

Treasury Secretary Steven Mnuchin says the U.S. is getting closer to a deal with China.

Mnuchin told CNBC’s Hadley Gamble in an interview that aired on “Squawk on the Street” Thursday. “We still have more work to do, and we hope to make progress this month.”

Different parts of administration are “completely united” on these discussions, he said. Last week, President Trump and Trade Representative Robert Lighthizer sparred in front of journalists — and Chinese representatives led by Vice Premier Liu He — over whether “memorandum of understanding” is the right phrase to term the agreement that the U.S. and China are negotiating.

The world’s two largest economies remained locked in a stalemate on issues including the forced transfer of technology and intellectual property. Negotiations between the two nations are aimed at “achieving needed structural changes in China that affect trade between the United States and China,” the White House said in a statement last week.

“There have to be real structural changes,” Mnuchin told CNBC.

— This is a developing story. Check back for updates.

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