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U.S. Treasury Secretary Steven Mnuchin says he hopes to makes “substantial progress” in trade talks with China, as the world’s two largest economies try to reach a resolution to their trade war.
Mnuchin and Trade Representative Robert Lighthizer are leading a U.S. delegation meeting with Chinese officials this week in Beijing.
Next week, Chinese officials will travel to Washington for another round of talks.
Washington and Beijing have held several rounds of talks this year to resolve a trade war that began in 2018 when President Donald Trump imposed punitive tariffs on $250 billion worth of Chinese imports. He has been trying to compel Beijing to change its trade practices. China retaliated with tariff increases on $110 billion of U.S. exports.