Mnuchin said the US needs to see something concrete from China in the next 90 days to build a real agreement on trade, two days after Trump and Chinese President Xi Jinping called a truce in the escalating confrontation between the two economic powerhouses. He said there was a significant commitment from both leaders on what needs to be done and instructions to both sides to negotiate and turn this into a real agreement with specific action items, deliverables and time frames.

Trump appointed US Trade Representative Robert Lighthizer to lead the next trade negotiation talk with China. He said US-China relations have achieved great progress.