US President Donald Trump announced on Monday that the US delegation to China on May 3 to discuss bilateral trade relationship will include Treasury Secretary Steven Mnuchin, Commerce Secretary Wilbur Ross, US Trade Representative Robert Lighthizer, White House National Economic Council Director Larry Kudlow, White House trade adviser Peter Navarro, US Ambassador to China Terry Branstad and Deputy Assistant to the President for International Economic Affairs Everett Eissenstat.

Mnuchin told Fox News in an interview aired Monday that he is "cautiously optimistic" about the meetings on Thursday and Friday. "Hopefully we'll make significant progress. We're going to make progress," he said of the Beijing trip.