JAKARTA - President Donald Trump said on Thursday he expects substantive negotiations between the United States and China over trading this weekend, predicting Washington's penalty rate for Beijing of 145 percent is likely to fall.
President Trump's comments, delivered at the White House when revealing details of a new trade agreement between the United States and Britain, are the latest sign of a softening tone between the world's two largest economies, which have been locked in a deadlock over tariffs and trades.
President Trump on Thursday indicated Uncle Sam's country could take steps to ease tensions by reducing levies, saying "it could" when asked if he would consider lowering fares if talks went well.
"Nothing is even higher. The rate is 145, so we know the rate will go down," President Trump said.
"I think this is a very friendly meeting. They hope to do it in an elegant way," he continued.
After more than two months of no movement towards restoring relations, the two sides this week announced they would send top officials to Switzerland to hold talks this weekend.
Meanwhile, President Trump's team has worked on several trade deals after the president suspended reciprocal rates for most countries to defuse trade wars overturning the US financial market and relations with friends and enemies.
However, he did not remove the tariff against China, while brief comments from Washington and Beijing about their dispute have raised questions about the economic consequences of the long trade war between the two.
This weekend's talks will involve US Treasury Secretary Scott Bessent and trading chief Jamieson Naka with Deputy Prime Minister and head of trade and US affairs in Switzerland, seen as the first step to resolve a trade war that disrupts the global economy.
President Trump said he believed China was eager to make an agreement, hoping to see the country open its economy.
"I think we're going to have a fun weekend with China. I think they're going to make a lot of profit. I think they're going to make more profit than us," said President Trump.
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When asked if he would speak to Chinese President Xi Jinping after negotiations, President Trump said it was possible.
"It's possible, yes, of course," he said.
He also gave an optimistic tone ahead of this weekend's negotiations
"I think it will be substantive," he said.
"China wants to do something, and look, they have to do it right now," said President Trump.
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