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 was significant momentum.

U.S. President Donald Trump on Wednesday suggested China initiated upcoming senior-level trade talks between the two countries and said he was not willing to cut U.S. tariffs on Chinese goods to get Beijing to the negotiating table.