Trump sees China talks may yield 145% tariff cut

US President Donald Trump said he believed trade negotiations launching this weekend with China would result in tangible progress.

He predicted Beijing would be willing to make concessions and that he could consider cutting punishing tariffs against the country if there were significant momentum.

“I think it’s going to be substantive,” Trump told reporters on Thursday, as he announced a framework trade agreement with the UK.

Trump said that if talks went well, he could consider lowering the 145% tariff he imposed on many Chinese goods.

“It could be,” Trump said in response to a question about the possibility. “I mean, we’re going to see. Right now, you can’t get any higher. It’s at 145% so we know it’s coming down. I think we’re going to have a very good relationship.”

US Treasury Secretary Scott Peacent are set to meet China's Vice-Premier He Lifeng in Switzerland over the coming days.