Treasury Secretary Steven Mnuchin told CNBC on Monday he expects the mid-December round of tariffs on Chinese goods to take effect if no deal is reached between the two economic superpowers.

"I have every expectation if there's not a deal those tariffs would go in place, but I expect we'll have a deal," Mnuchin said on CNBC's "Squawk Box."

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Mnuchin's commitment to keeping tariffs on the table comes days after President Donald Trump announced a "fundamental agreement in principle" for a "phase one deal" following a round of renewed high-level negotiations with Beijing in Washington.