Trump tariffs live updates: Trump says US and China are discussing a deal

Trump revealed for the first time that U.S. and Chinese teams are discussing a deal on tariffs and that he thinks a deal could be achieved in the next three to four weeks.

Pressed by ABC News' Rachel Scott and other reporters, Trump would not say whether he had spoken directly with Chinese President Xi Jinping.

Asked by Scott if Xi had reached out to Trump to initiate a conversation, Trump replied, “Well, you think it was pretty obvious that he has, but we will talk about that soon. It's not that important because honestly, we're going to have a deal. I believe we're going to have a deal with China,” Trump said. “And if we don't, we're going to have a deal anyway because we're going to set a certain target and that's going to be it.”

Asked whether the Chinese have reached out since Trump raised the retaliatory tariff against China to the 145%, Trump said, "A lot, I mean, a lot. All the time, we’re talking."

When asked whether he'd spoken to his Chinese counterpart, Trump said: "I don't want to say that. It's---it's just not appropriate."

But when pressed, he obfuscated when asked whether he'd actually spoken to his counterpart.

"I mean, I've never said whether or not they’ve happened, but I have a very good relationship with President Xi, and I think it's going to continue. And, I would say they have reached out a number of times," Trump said.

-ABC News’ Rachel Scott, Fritz Farrow and Michelle Stoddart

Sen. Mitch McConnell, R-Ky., told ABC News' Jay O'Brien he's not convinced President Donald Trump's tariffs are "the best way to go" during a gathering in Kentucky on Thursday.

"Put me down as not yet convinced that this is the best way to go, but we'll see. Maybe it will turn out the way that the president would like for it to turn out, but that is unfolding as we speak," he said.

McConnell noted he's "never been a tariff enthusiast."

"As you know, the administration has a different approach. Let me just tell you I hope that it succeeds," he continued.

-ABC News' Allison Pecorin

ABC News Senior Political Correspondent Rachel Scott asked President Donald Trump on Thursday if he believes he has the power to remove Federal Reserve Chairman Jerome Powell and if he is trying to do so.

"I don't think he's doing the job. He's too late, always too late, a little slow, and I'm not happy with him," Trump responded.

Trump said if he asked Powell to leave, "he'll be out of there."

Powell's term doesn't end until 2026. Powell previously said he would not leave even if Trump asked him to resign.

"If I want him out, he'll be out of there real fast, believe me," Trump said.

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."

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.