US, China trade talks could wrap in four weeks, says Donald Trump

President Donald Trump said on Thursday that the United States and China could wrap up trade talks within four weeks after making quick progress on the potentially ‘epic’ deal. "We are getting very close to making a deal," he said ahead of a White House meeting with Chinese trade envoy Liu He. "Progress is being made at a very rapid pace."

"We will probably know over the next four weeks. It may take two weeks after that.... It's looking very good." A deal would allow a summit between him and Chinese President Xi Jinping, he said.

Earlier, Trump said that the negotiations were for an agreement covering the full range of US concerns. "Everything is covered, there's nothing that's not covered," Trump said, referring to the scope of US demands.

"It's got to be a great deal," he said. "If it's not a great deal, we're not doing it." Trump said there was potentially for an "epic" and "historic" agreement.

Last year, Trump launched a trade war with China, seeking to slash that country's soaring trade surplus with the United States, end alleged unfair trade practices such as the theft of American technology and China's massive state intervention in markets.

Washington and Beijing since last year have imposed slapped tariffs on more than USD360 billion in two-way trade, biting into their manufacturing sectors as the world economy shows signs of slowing.