June 26, 2019 / 12:54 PM / 5 months ago

U.S. Treasury Secretary says U.S., China were close to trade deal: CNBC

FILE PHOTO: Treasury Secretary Steven Mnuchin testifies before the House Financial Services Committee hearing on "The Annual Testimony of the Secretary of the Treasury on the State of the International Financial System" in Washington, U.S., May 22, 2019. REUTERS/Mary F. Calvert/File Photo

(Reuters) - U.S. Treasury Secretary Steven Mnuchin said on Wednesday that the United States and China were close to a trade deal, CNBC reported.

“We were about 90% of the way there (with a deal) and I think there’s a path to complete this,” Mnuchin said in an interview to the news channel.

U.S. President Donald Trump and his Chinese counterpart Xi Jinping will meet this week at the G20 summit in Japan hoping to calm their 11-month trade war.

Separately, in comments on recent U.S. sanctions on Iran, Mnuchin said he believes the sanctions “are working”.

(The story corrects headline and first paragraph to clarify that Mnuchin was using past tense while describing progress in U.S.-China talks.)

Reporting by Kanishka Singh in Bengaluru; Editing by Rashmi Aich

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