US Treasury Secretary confirmed that the trade discussions between US and China have now reached the final stages. Mnuchin made these remarks during an interview while attending the Milken Institute Global Conference in Los Angeles.

US Trade Representative Robert Lighthizer and Mnuchin are set to travel to Beijing for a meeting with Chinese Vice Premier Liu He as the trade talks progress. However, Mnuchin has declined to confirm if these discussions would culminate in a final deal by the end of June, as the markets have been expecting.

The trade war between two of the world’s largest economies have been affecting the market sentiment adversely since last year. Both sides have imposed tariffs on billions of dollars worth of imports from each other. World markets are hoping for a resolution as the trade discussions conclude in a fair and comfortable trade deal between these two world powers soon.