Trump will explain tariffs on electronics on Monday

Trump said on Thursday that he thinks he would return to the higher tariff rates he unveiled last week if he doesn't reach a deal with nations affected within the next 90 days.

"If we can't make the deal we want to make or we have to make or that's, you know, good for both parties -- it's got to be good for both parties -- then we go back to where we were," Trump said.

When asked if he would extend the 90-day pause, Trump said, "We'll have to see what happens at the time."

Trump was asked by ABC News' Karen Travers if he had any concerns about reports that China would reduce the number of U.S.-produced films to play in their theaters.

"I think I've heard of worse things," Trump responded, prompting laughter from his Cabinet.

Trump was asked to respond to U.S. stocks plunging on Thursday, wiping out half of the previous day's rally.

"I haven't seen it because I've been in here for two and a half hours," Trump said.

He then asked Treasury Secretary Scott Bessent to weigh in. Bessent said once deals are worked out with nations, we will end up in a place of certainty but thought there was positive news with the inflation report and oil prices.

"I don't see anything unusual today," Bessent said.

The Treasury Department released a readout Thursday from Secretary Scott Bessent's meeting with Vietnam Deputy Prime Minister Ho Duc Phoc in which the two agreed to begin formal discussions on trade.

Bessent emphasized "the importance of continued engagement with trade partners, and the need for quick, demonstrable progress to resolve outstanding issues."

The Vietnamese government has not immediately issued a statement.

-ABC News' Michelle Stoddart and Hannah Demissie