"We’re in the process of confirming the logistics of several meetings and we’re determined to make sure that we use the time wisely, to try to resolve this," Mnuchin told Bloomberg News. "We expect there will be meetings in January."
US President Donald Trump and Chinese President Xi Jinping called for a 90-day truce in their escalating trade war after meeting on the sidelines of the G20 Summit in Buenos Aires.
Trump agreed to suspend plans to raise tariffs on $200 billion worth of Chinese products from 10 percent to 25 percent in order to pave the way for trade talks with Beijing, but warned that if the negotiations do not succeed within three months, tariff increases will move forward as previously planned.
China and the United States have been engaged in a trade war since US President Donald Trump announced in June that $50 billion worth of Chinese goods would be subject to 25 percent tariffs in a bid to fix the US-Chinese trade deficit. Since then, the two countries have exchanged several rounds of trade duties on hundreds of billions of dollars’ worth of goods.