--- title: Treasury Secretary Steven Mnuchin: "Real Agreement" in the Works Between the U.S. and China on Trade | TIME description: Treasury Secretary Steven Mnuchin told reporters at the White House Monday that there is a "real agreement" in the works between the U.S. and China on trade following President Donald Trump's three hour dinner with President Xi Jinping in Argentina. canonical: https://time.com/video/GhFERXZI/ og:title: Treasury Secretary Steven Mnuchin: "Real Agreement" in the Works Between the U.S. and China on Trade og:description: Treasury Secretary Steven Mnuchin told reporters at the White House Monday that there is a "real agreement" in the works between the U.S. and China on trade following President Donald Trump's three hour dinner with President Xi Jinping in Argentina. og:url: https://time.com/video/GhFERXZI/ og:image: https://cdn.jwplayer.com/v2/media/GhFERXZI/poster.jpg?width=720 og:type: video.other twitter:card: summary_large_image twitter:title: Treasury Secretary Steven Mnuchin: "Real Agreement" in the Works Between the U.S. and China on Trade twitter:description: Treasury Secretary Steven Mnuchin told reporters at the White House Monday that there is a "real agreement" in the works between the U.S. and China on trade following President Donald Trump's three hour dinner with President Xi Jinping in Argentina. twitter:image: https://cdn.jwplayer.com/v2/media/GhFERXZI/poster.jpg?width=720 --- # Treasury Secretary Steven Mnuchin: "Real Agreement" in the Works Between the U.S. and China on Trade > Sponsored content. 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They are at time.com/newsletters and are separate from a paid subscription. ## Video: Treasury Secretary Steven Mnuchin: "Real Agreement" in the Works Between the U.S. and China on Trade [Watch (HLS stream): Treasury Secretary Steven Mnuchin: "Real Agreement" in the Works Between the U.S. and China on Trade](https://cdn.jwplayer.com/manifests/GhFERXZI.m3u8) (1:29)  _Published 2018-12-04. Treasury Secretary Steven Mnuchin told reporters at the White House Monday that there is a "real agreement" in the works between the U.S. and China on trade following President Donald Trump's three hour dinner with President Xi Jinping in Argentina._ --- Jul 28, 2023 12:55 AM UTC --- ## More From This Series [All Videos](https://time.com/video/) [Treasury Secretary Steven Mnuchin on Extending Unemployment](/video/sT9FdPJE/) ### Treasury Secretary Steven Mnuchin on Extending Unemployment [TIME100 Talks with U.S. Treasury Secretary Steven Mnuchin](/video/tr3qSm7S/) ### TIME100 Talks with U.S. Treasury Secretary Steven Mnuchin [Treasury Secretary Steven Mnuchin Says Cash Infusions Could Happen Swiftly](/video/BH0oD6Tl/) ### Treasury Secretary Steven Mnuchin Says Cash Infusions Could Happen Swiftly --- ## Transcript I think there's a specific understanding that we're going to now turn the agreement that the two presidents have into a real agreement over the 90 days. Obviously some of the issues are going to need to be phased in. Some of the issues may need more detailed work, but the idea is there will be a real agreement, and as I've said this is the first time there was a commitment from China That the agreement will include specific dates, specific targets, specific action items. This is not gonna be just kicking the king down the road. Well, I think President Trump's strategy on terrorist were very effective. I think it created a first time real change in the willingness to address Certain issues, and I think President Trump and President Xi have developed a very important relationship. I think as the two largest economies they both understand the responsibilities that we have. But let me just comment also, a big part of the dinner was obviously on the economic issues. The fentanyl issue is a very, very big deal. President, she said, they're gonna change major rules and regulations, specifically because President Trump asked him and in understanding that this is killing many Americans'. There's also very specific discussion on North Korea and a commitment that they will work with us, to make sure that there is a nuclear free peninsula. Secretary Pompeo has been doing a great job and came out of that meeting with a real commitment from China. 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