The White House said Tuesday that it was “setting the stage for a deal with China” on trade as administration officials seek to reassure nervous financial markets and investors that progress with

Trump “would be gracious if China intends to make a deal with the United States,” White House press secretary Karoline Leavitt said Friday. “If China continues to retaliate, it's not good for China.”

President Trump vowed his administration will reach a "fair deal" with China on trade as he floats substantially reducing tariffs on Beijing.