Mnuchin on trade talks with China: ‘So far, so good’

Treasury Secretary Steven Mnuchin on Wednesday indicated that trade talks in Beijing have gone well as representatives for the U.S. and China seek to strike a deal.

“So far, so good,” Mnuchin said after the day’s discussions, according to Reuters. 

Mnuchin did not say whom he met with, Reuters reported.

{mosads}Mnuchin arrived in Beijing on Tuesday with U.S. Trade Representative Robert Lighthizer. The two are expected to remain in China through the end of the week to continue negotiations.

Negotiators have until March 1 to reach a comprehensive trade agreement, at which point the U.S. has said it will increase its tariffs on Chinese imports from 10 percent to 25 percent. The two sides have been locked in an escalating trade war for months, levying tit-for-tat duties on the other’s products.

President Trump said Tuesday that he may consider extending the March 1 deadline if the two sides are close to a deal.

“So far I’ve said, ‘Don’t do that.’ Now, if we’re close to a deal where we think we can make a real deal and it’s going to get done, I could see myself letting that slide for a little while,” Trump told reporters at a Cabinet meeting.

Trump has emphasized that he and Chinese President Xi Jinping would need to meet before signing any agreement, though he said Tuesday that there are currently no plans for the two leaders to hold talks next month.

Asked Wednesday about the possibility of such a meeting taking place at Trump’s Mar-a-Lago resort, White House press secretary Sarah Huckabee Sanders said she thought the Florida property “would be a great venue.”