Mnuchin: 'Nothing Planned' for Further US-China Trade Talks - Reports

"They were constructive discussions between both parties, that's all we're going to say", Mnuchin was quoted as saying by CNBC.

US President Donald Trump said earlier on Friday that the trade talks with China were proceeding in a "very congenial manner" despite his administration's decision to impose 25 percent tariffs on $200 billion worth of Chinese goods.

Trump added that the latest tariffs, which went into effect at 12:01 a.m. on Friday, would produce "massive payments" that would go directly to the US Treasury Department.

READ MORE: US Faces Broader Risks Due to China Trade War, Should Stick to WTO Rules – Fox

Washington and Beijing have been trying to overcome disagreements that emerged in the wake of Trump’s decision last June to impose 25 percent tariffs on $50 billion worth of Chinese goods in a bid to fix the US-Chinese trade deficit. Since then, the sides have exchanged several rounds of trade duties.

Beijing has already vowed to retaliate against Washington's decision on Friday to impose the latest 25 percent tariffs on $200 billion worth of Chinese goods.

READ MORE: US-China Trade War Not Over? Trump-Xi Deal Could Be 'Temporary' Accord — Pundit