Trump departed Wednesday for Osaka, Japan, to attend the G20 Leaders'summit. He also suggested that he might impose a 10% tariff on goods on a $300 billion list of Chinese imports, rather than the 25% previously proposed.
Trump is expected to meet Xi Jinping in Osaka on Saturday. The talks may restart the stalemate in trade negotiations between the world's two largest economies, or trigger a deeper and more costly trade war that will drag down global economic growth and disrupt financial markets.
"It's entirely possible... we have to make a good deal," Trump told Fox Business News. "It's possible for us to reach an agreement, but I'm also very satisfied with our situation."
Since the collapse of the talks in May, Sino-US relations have sharply declined, when the United States accused China of overturning its commitment to economic reform.
Since then, the consultative representatives of the two countries have not met. Chinese sources familiar with the status of the negotiations told Reuters that the best outcome of the special session is to resume negotiations, and there is still a long way to go before the two sides reach an agreement.
Trump said that Chinese leaders "want to reach an agreement. They want to reach an agreement more than I do."
Shortly after Trump's return from the Osaka summit, he will likely impose a 25% tariff on $300 billion worth of Chinese consumer goods, ranging from mobile phones, laptops and tablets to stockings and baby carts.
The public commentary period on this round of tariff action will end on 2 July. Earlier, at a seven-day public hearing, large and small businesses in the United States demanded no further tariff action and warned that it would be difficult to transfer production out of China.
"If we fail to reach an agreement, I will impose extra tariffs, which are very high," Trump said. But he said he might consider imposing a 10% tariff on an additional $300 billion of Chinese imports to the United States, rather than the proposed 25%.
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