Trump says he is 'getting very close' to trade deal with China

President Donald Trump said Tuesday that the US and China are rapidly narrowing gaps on a trade deal that would see the world's top two economies dramatically reduce import duties on one another.

"We're getting very close to a deal. We're getting along with China very well," he said during an interview with the CNBC television network. "I think we'll make a good deal. It's not imperative, but I think we will make a good deal."

The US president continued to downplay suggestions that he is eager to meet with Chinese President Xi Jinping, saying that while he has "a very good relationship" with Xi, he is not actively seeking a sit-down. Such a meeting could occur "before the end of the year most likely," but only if a trade deal is finalized, he said.

"If we don't make a deal, I'm not going to have a meeting. I mean, you know, what's the purpose of meeting if we're not going to make a deal?" Trump asked rhetorically.

Trump on April 2 announced sweeping tariffs for countries across the world and later established a 10% baseline rate that would be imposed on countries while individual negotiations played out. The president imposed an Aug. 1 deadline for nations to strike deals with his negotiating team or face heightened import duties.

He separately gave China until Aug. 12 to reach an agreement with his administration or face tariffs above 80%. US Trade Representative Jamieson Greer suggested Sunday that the deadline may not be set in stone, however, with the timeframe being "under discussion."

"That's what's under discussion right now," he said. "I would say that our conversations with the Chinese have been very positive. We have discussions at the staff level, at my level. President Xi and President Trump have had conversations."