Treasury Secretary Steven Mnuchin Says Courts Should Settle Fight Over Trump's Taxes

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U.S. Treasury Secretary Steven Mnuchin said on Wednesday he will likely travel to Beijing soon to continue negotiations with Chinese counterparts as the world's two biggest economies try to salvage talks aimed at ending their months-long trade war. "We're continuing discussions. There's still a lot of work to do".

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But Trump softened his tone somewhat on Tuesday, praising his relationship with Chinese President Xi Jinping, appealing to Beijing to purchase US farm products and vowing to finalize a deal soon. Add Donald Trump as an interest to stay up to date on the latest Donald Trump news, video, and analysis from ABC News.

Mnuchin tells a Senate panel that the fight between the administration and Rep. Richard Neal, the House Ways and Means Committee chairman, "will go to the third branch of government to be resolved".

Pushing back on Mnuchin's argument that the request is "unprecedented", Van Hollen noted that the century-old IRS code 6103, which Democrats say gives them the authority to obtain Trump's tax returns, was enacted because of Congress' concerns about a senior member of the executive branch not paying taxes.

"We haven't made a decision, but I think you can guess which way we're leaning on the subpoena", Mnuchin said toward the end of the hearing.

Mnuchin calls it "a very important issue that has a precedent way beyond any one president and Congress".

But Mnuchin said that the Treasury Department was unlikely to comply.

The president's lawyers and White House are expected to challenge the move and have argued that Democrats' request does not serve a legitimate legislative goal, an argument the administration made in its rejection of the Democrats' initial request.