UPDATE 1-Trump says U.S. doing well in trade negotiations with China

President Donald Trump said on Wednesday the United States was doing well in trade talks with China.

"I like where we are right now," Trump said in response to a question about trade negotiations with China by reporters at a White House event. The Trump administration has said it would increase tariffs on $200 billion of imports from China if no agreement was made on a range of trade disputes by March 1.

China "very much wants to make a deal," Trump said. "We'll see what happens. But we're doing very well in our negotiations with China," he said.

Earlier on Wednesday, White House economic adviser Kevin Hassett said he believed the United States and China could reach a trade deal by March 1. (Reporting by Jeff Mason; Writing by Mohammad Zargham; Editing by David Alexander and Lisa Shumaker)