Treasury Secretary Steven Mnuchin says the U.S. is getting closer to a highly anticipated trade deal with China.
"The deal is not done yet but we have made a lot of progress" Mnuchin told CNBC's Hadley Gamble in an interview that aired on "Squawk on the Street" Thursday. "We still have more work to do, and we hope to make progress this month."
He and U.S. Trade Representative Robert Lighthizer are working on "detailed agreement" for "significant commitments" from Beijing. Mnuchin underlined that these discussions have been going on for two years, since the first summit between President Donald Trump and China's President Xi Jinping.
The world's two largest economies have been locked in a stalemate on issues including the forced transfer of technology and intellectual property. Negotiations between the two nations are aimed at "achieving needed structural changes in China that affect trade between the United States and China," the White House said in a statement last week.
"There have to be real structural changes," Mnuchin told CNBC.