- U.S. Treasury Secretary Steven Mnuchin calls the results of last week's U.S. and China trade negotiations a "fundamental agreement that is subject to documentation."
- It addresses intellectual property rights, financial services including currency and foreign exchange, and "very significant structural issues" in agriculture, he told CNBC.
- In exchange, President Trump will postpone tariffs on the remaining $300B of Chinese goods not already subject to tariffs, though that could be reversed if China doesn't sign off on the current deal, Mnuchin said.
- Update at 9:05 AM ET: However, Mnuchin expects tariffs scheduled to be levied in mid-December to take place, if there is no deal signed by then -- "but I expect we'll have a deal," he said.
- Previously: Trump says U.S., China reach a phase one deal (Oct. 11)
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