US President Donald Trump has signaled a potential U-turn on his trade war with China, saying the high tariffs on Chinese goods will “come down substantially, but it won’t be zero.”

President Trump said 145% tariffs on Chinese imports will "come down substantially" as his administration expressed optimism about a trade deal.

The 145% tariffs on Chinese imports will come down 'substantially,' the president says shortly after meeting with retail CEOs who sounded alarm bells on product pricing and availability.