US Secretary of Treasury Steven Mnuchin arrives for a G7 summit of Finance Ministers on May 12, 2017 in Bari.

FILIPPO MONTEFORTE | AFP | Getty Images

US Secretary of Treasury Steven Mnuchin arrives for a G7 summit of Finance Ministers on May 12, 2017 in Bari.

U.S. Treasury Secretary Steven Mnuchin emphasized the Trump administration’s excitement after the U.S. and China announced a series of trade measures aimed at improving the trade balance between Washington and Beijing.

When asked how he planned to defend the Trump administration’s “America First” trade policies at a G-7 meeting of finance ministers in Italy, Mnuchin told CNBC, “We’re excited about U.S. trade policies and I think you probably saw last night, we made an announcement of a 100 day economic plan with the Chinese, so I think we’re very happy with how we are proceeding on trade.”

On Thursday evening, the U.S. and China struck a deal which would open China to exports of U.S. beef and chicken and, at the same time, give access to U.S. financial companies in areas in China such as card payment services and credit ratings.

Mnuchin arrived in Italy’s southern seaside town of Bari on Friday with representatives from Europe, Japan and Canada hopeful he would shed some light on the direction of President Trump’s key policies.

Although protectionism was technically off the agenda at the G-7 meeting, Trump’s “America First” pledge had prompted global concerns regarding trade relationships between the world’s largest economy and other nations.

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