Trump says confident China sincere about wanting a trade deal

U.S. President Donald Trump said on Monday he was confident that China was sincere about wanting a trade deal with the United States because it had taken "a very large hit" in recent months. "I think they want to make a deal very badly. I think that was elevated last night. The vice-chairman of China came out, he said he wants to see a deal made," Trump told a news conference at the end of a G7 summit in Biarritz, France.

"He wants it to be made under calm conditions ... I agree that China has taken a very large hit in the last few months. Three million jobs. It will soon be much more than 3 million jobs. Their chain is breaking up as no one has seen before. Once that happens it is very hard to put it back together. I think they very much want to make a deal." The trade war between the United States and China, the world's two largest economies, escalated last Friday as both sides leveled more tariffs on each other's exports.

Earlier on Monday, Trump sounded a more conciliatory note, saying he believed China wanted to make a trade deal after it contacted U.S. trade officials overnight to say it wanted to return to the negotiating table.

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