US President Donald Trump said he believed trade negotiations launching this weekend with China would result in tangible progress, predicting Beijing would be willing to make concessions and saying he could consider cutting punishing tariffs against the country if there were significant momentum.

The Treasury secretary and trade representative plan to meet with Chinese officials this weekend to discuss trade and economic matters.

With time running out on his 90-day tariff pause, Donald Trump and his team have yet to announce a new trade agreement.