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U.S. Treasury Secretary Steven Mnuchin said Friday afternoon that the U.S. and China met and agreed to a currency deal in which China will purchase $1.2 trillion in U.S. goods, reports CNBC.

The state of play... President Trump said "President Xi and I will work out the final points," on trade in the not too distant future. Based on Friday's meetings, Trump said a deal seems more likely than not.

Mnuchin says China will buy $1.2 trillion in U.S. goods

According to the details of the trade talks, China will purchase $1.2 trillion in U.S. goods.

U.S. President Trump and China's President Xi Jingping. Photo: Pool/Getty Images

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U.S. Treasury Secretary Steven Mnuchin said Friday afternoon that the U.S. and China met and agreed to a currency deal in which China will purchase $1.2 trillion in U.S. goods, <a class="gtmContentClick" data-vars-link-text="reports CNBC." data-vars-click-url="https://www.cnbc.com/2019/02/22/trump-xi-discussing-late-march-summit-at-mar-a-lago-sources-say.html" data-vars-content-id="0d1f5de8-26f5-42f1-becd-102f8106b67c" data-vars-headline="Mnuchin says China will buy $1.2 trillion in U.S. goods" data-vars-event-category="story" data-vars-sub-category="story" data-vars-item="in_content_link" href="https://www.cnbc.com/2019/02/22/trump-xi-discussing-late-march-summit-at-mar-a-lago-sources-say.html" target="_blank">reports CNBC.</a>The state of play... President Trump said &quot;President Xi and I will work out the final points,&quot; on trade in the not too distant future. Based on Friday&#x27;s meetings, Trump said a deal seems more likely than not.

China is becoming the most formidable rival America has faced, and the risk of confrontation with Russia, North Korea or Iran still looms. Authoritarians are rising, the chaotic Afghanistan exit revealed the limits of U.S. power, and the pandemic, climate change and other critical challenges continue to pose grave threats.

Mnuchin says China will buy $1.2 trillion in U.S. goods

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