Treasury’s Mnuchin expects elements of China trade talks to be resolved soon

WASHINGTON (Reuters) – The Trump administration is discussing a thick tome of ideas with Chinese officials as the two sides seek a trade deal, with Washington expecting some elements to be resolved soon, U.S. Treasury Secretary Steven Mnuchin said on Thursday.

Mnuchin said he and U.S. Trade Representative Robert Lighthizer had a phone call with a top Chinese official on Wednesday night.

Washington has raised tariffs aggressively on Chinese imports to pressure Beijing into a trade deal that would reduce the U.S. trade deficit with China.

Washington accuses Beijing of forcing U.S. companies to share their intellectual property and transfer their technology to local partners in order to do business in China. Beijing denies it engages in such practices.

Mnuchin said any eventual deal would involve “a very clear enforcement provision.”

“There is over a 150-page document that we are working on,” Mnuchin told lawmakers during a hearing in the U.S. House of Representatives.

“I expect that something will resolve in the near future,” Mnuchin said.