President Donald Trump revealed for the first time on Thursday that the United States is in talks with China on a tariff deal. Trump said a deal could be reached in the next three to four weeks.
Earlier Thursday, Trump met with Italian Premier Giorgia Meloni at the White House amid a tariff standoff with the European Union. The talks came a day after Trump met with Japanese officials and spoke with Mexican President Claudia Sheinbaum.
Meanwhile, Trump is criticizing Federal Reserve Chairman Jerome Powell, saying his "termination cannot come fast enough" after Powell said he expects Trump's tariff policy to cause higher inflation and slower economic growth.
After talks with Japan and Italy this week, Trump was asked on Thursday if he expects to announce an initial deal with any of these countries soon.
"At a certain point, yeah," Trump said. "We're in no rush. We're in no rush."
President Donald Trump speaks before a luncheon with Italy's Prime Minister Giorgia Meloni in the Cabinet Room of the White House, Thursday, April 17, 2025, in Washington.
Alex Brandon/AP
The president went on to tout his 25% tariff rate on cars, steel and aluminum as well as the 10% baseline tariff on trade partners. "You know, the United States never got anything until I came along," Trump said.
Apr 17, 2025, 12:41 PM EDT
Trump predicts he will make a deal with China over tariffs
President Donald Trump predicted he will make a deal with Chinese President Xi Jinping amid the escalating tariff war between the countries.
"I think we're going to make a very good deal with China," the president said during his luncheon with Italian Prime Minister Giorgia Meloni.
The United States raised tariffs on China by 145%. It responded with a 125% tariff on U.S. goods.
He also brushed aside any concern about U.S. allies growing closer to China, saying, "Nobody can compete with us."
President Donald Trump speaks before a luncheon with Italy's Prime Minister Giorgia Meloni in the Cabinet Room of the White House, Thursday, April 17, 2025, in Washington.
Alex Brandon/AP
Apr 17, 2025, 12:33 PM EDT
Trump, Meloni optimistic deal can be reached before end of 90-day pause
President Donald Trump and Italian Prime Minister Giorgia Meloni fielded several questions from reporters during their lunch at the White House. Both expressed optimism that a deal will be reached between the United States and the European Union before the end of Trump's 90-day pause on higher tariffs against dozens of trade partners.
"There'll be a trade deal, 100%," Trump said. "They want to make one very, very much. We're going to make a trade deal -- I fully expect it, but it'll be a fair deal."
President Donald Trump and members of his cabinet sit down for lunch with Italian Prime Minister Giorgia Meloni and her visiting officials in the Cabinet Room at the White House on April 17, 2025 in Washington, DC.
Win Mcnamee/Getty Images
The U.S. has imposed a 10% tariff rate on the European Union after Trump paused the 20% higher, "reciprocal" tariff rate against member nations. The EU has also temporarily suspended its retaliatory 25% tariffs against U.S. imports.
Italy's Meloni was asked if the retaliatory tariff against the U.S. would still be on the table if an agreement isn't reached with Trump.
"I'm sure we can make a deal," she replied.
Apr 17, 2025, 12:08 PM EDT
Trump greets Italy's Meloni, says he's 'very confident' a trade deal can be made with EU
President Donald Trump greeted Italian Prime Minister Giorgia Meloni outside the White House at noon.
Trump shook Meloni's hand and said he is "very confident" that he could make a trade deal with the European Union.
President Donald Trump greets Italian Prime Minister Giorgia Meloni outside the West Wing of the White House on April 17, 2025 in Washington, DC.
Win Mcnamee/Getty Images
The two will have lunch before a bilateral meeting in the Oval Office.
