President Donald Trump has insisted that Chinese President Xi Jinping "wants to make a deal" despite imposing a massive 125% tariff on Chinese imports as the trade war between the two economic giants intensifies.

US President Donald Trump on Wednesday voiced optimism that a deal with China is still within reach, even as tensions between the two superpowers escalated following his decision to raise tariffs on Chinese goods to 125%.

President Donald Trump took umbrage with China’s retaliation and threatened to impose a new 50% tariff if the country does not lift its duties on U.S. exports by Tuesday. Trump took to his social media platform Truth Social to issue an ultimatum to Xi Jinping’s administration on Monday and threatened China that it would face consequences unless it