US Trade representative Robert Lighthizer this week pointed to "major issues" still unresolved in the talks, with few signs of a breakthrough on the most hard subjects.
Mnuchin, speaking to reporters following a U.S. Senate Finance Committee hearing, said both sides were "working in good faith" to try to reach a deal "as quickly as possible".
"The good news is mildly negative news on China trade doesn't tip the apple cart over anymore", said Art Hogan, chief market strategist at National Securities in NY.
The United States is not in a rush to enter into a trade deal with China, the negotiations for which has been undergoing since December past year, US President Donald Trump said.
As I said at the outset, there will be a deal, just don't expect much substance to it or for China to honor it if there is.
While Trump portrayed China as anxious for a trade deal, his former economic adviser, Gary Cohn, said he believes it's the US that is "desperate" for an agreement.
For the record, I think the pause in tariffs is a good thing because tariffs are a bad idea in the first place.
China and the US aretrying to offset a meeting between the two leaders with each trying to push it from late March to early April according to Bloomberg which also suggested that Trump was in no particular hurry to negotiate the deal. But he told reports at the White House that "I'm in no rush". "If it's not a deal that's a great deal for us, we're not going to make it". I would prefer that.
As to the reason why China and the USA are postponing the signing of the agreement that will put an end to the trade war, Trump's trade representative Robert Lighthizer said that there are still some major issues to resolve including the intellectual property dealing.
Boeing Co, the single largest USA exporter to China, slipped 1 per cent.
"But it's an exciting time in terms of trade".
"I was losing the war on tariffs every day with the president". This also came about after The New York Times made claims of federal prosecutors' investigations touching on data deals the company conducted with other tech giants. "We have other deals that we have cooking", he said. "Who's making these deals?" he said.
"The president needs a win", Cohn said in a Freakonomics Radio podcast.