Washington: Treasury secretary Steven Mnuchin said he’s hopeful the temporary trade-war truce that President Donald Trump and China’s Xi Jinping agreed to on Saturday will lead to real changes in China’s economic policies.

Trump agreed to postpone plans to raise tariffs on 1 January to $200 billion of Chinese goods to 25% from 10% after trade talks with Xi on the sidelines of the G20 summit. The White House gave a 90-day tariff reprieve while the two sides bridge differences over the America’s concerns of China’s alleged theft of intellectual property and trade imbalances.

“This will be a real agreement," Mnuchin said in an interview on CNBC on Monday from Washington. “There was very specific understanding between President Trump and President Xi and now it’s the team’s job to turn this into a real agreement, that will have deliverables, dates and real commitments."

“This is the first time that we have a commitment from them that this will be a real agreement. There will be structural issues, there will be non-structural issues, there will be issues on intellectual property, technology, cyber, currency," said Mnuchin.

Trump boasted on Monday that US-China ties have taken a ‘BIG leap forward’, after his meeting with Xi Jinping-

Divisions within the Trump administration over how tough to be on China were on display on Monday. White House trade advisor Peter Navarro, who has advocated a harder line against China including tariffs, told NPR that fellow hawk US trade representative Robert Lighthizer would lead the 90-day talks. Mnuchin told CNBC that Trump would ultimately oversee the negotiations.

Lighthizer is “the toughest negotiator we’ve ever had at the USTR and he is going to go chapter and verse and get tariffs down, non-tariff barriers down and end all these structural practices that prevent market access," Navarro said.

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Meanwhile, Trump boasted Monday that US relations with China have taken a “BIG leap forward" following his meeting in Argentina with Jinping.

“Very good things will happen. We are dealing from great strength, but China likewise has much to gain if and when a deal is completed. Level the field!" he said in a series of early morning tweets.

The Saturday truce had boosted markets, and Trump jolted global auto stocks on Monday with a claim that China agreed to “reduce and remove" tariffs on imported American-made cars, raising more questions about the outcome of his meeting with Xi. In a briefing in Beijing a few hours later, China’s foreign ministry spokesman Geng Shuang declined to comment on any car tariff changes.