Trump says Mnuchin will travel to China amid trade dispute

President Donald Trump said Tuesday that Treasury Secretary Steven Mnuchin will soon travel to China for talks as the two global economic powers deal with trade tensions.

Trump said during a White House news conference with French President Emmanuel Macron that Mnuchin will be going to China "in a few days to negotiate on trade." Trump said the U.S. and China are "very serious" and reiterated his plans to impose tariffs of up to $100 billion more on Chinese goods.

"We've put on very substantial tariffs, and that will continue unless we make a trade deal. I think we've got a very good chance of making a deal," Trump said.

The United States and China have moved to the brink of the most consequential trade dispute since World War II. Both countries have proposed tariffs of $50 billion on each other's products; Trump is looking to impose tariffs up to $100 billion more on Chinese goods.

Mnuchin has expressed optimism that the countries could avoid a trade war. He met last week with financial officials from China, Japan and Europe.

And in a sign of progress, Chinese President Xi Jinping vowed earlier this month to open China's market wider to foreign companies, raising hopes the dispute with Washington could be resolved.

The Commerce Ministry in Beijing said last weekend that China would welcome a visit from the U.S. to discuss trade issues.