(Bloomberg) -- President Donald Trump said he received a โbeautiful letterโ from Chinese President Xi Jinping and that the two leaders would probably speak by phone, as a delegation from Beijing arrives in Washington to negotiate a potential trade deal.
Speaking Thursday at the White House, Trump said it's still possible that the U.S. and China reach a deal this week.
โI think it'll be a very strong day,โ Trump said. But, he added, โI have no idea what's going to happen.โ
โOur alternative is an excellent one,โ the president said. โIt's an alternative I've spoken about for years. We've taken well over $100 billion from China in a year.โ
Trump said Xi's letter expressed optimism about working together and, when asked whether the two leaders would meet, he said they would probably speak by phone. โIt was their idea to come backโ to talks, he added.
China's top trade envoy, Vice Premier Liu He, is due to land in the U.S. capital on Thursday afternoon and go immediately into discussions with Trump's top negotiator, Robert Lighthizer. U.S. tariffs on some $200 billion in Chinese goods are set to increase to 25% just hours later in a move that economists and businesses say risks being the most economically consequential of all of Trump's tariff moves so far.
U.S. stocks pared declines after Trump's remarks.
To contact the reporter on this story: Alyza Sebenius in Washington at asebenius@bloomberg.net
To contact the editors responsible for this story: Alex Wayne at awayne3@bloomberg.net, Joshua Gallu, Justin Blum
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