US Treasury Secretary Steven Mnuchin said trade negotiations with China are “close to the final round of concluding issues”. But he emphasized that this is “not a public negotiation”. And it’s a “very, very detailed agreement covering issues that have never been dealt with before”.

Mnuchin claim that “this is way beyond anything that looked like a bilateral investment treaty.” He said the two sides are negotiating an agreement with seven chapters that would be “the most significant change in the trading relationship in 40 years.”

Also, there will be “real enforcement on both sides”. And he expected the enforcement mechanism to work in “both directions”. “If we don’t, there should be certain repercussions, and the same way in the other direction.”

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