President Donald Trump speaks during a press conference with China's President Xi Jinping at the Great Hall of the People in Beijing on November 9, 2017.










Nicholas Asfouri | AFP | Getty Images

President Donald Trump speaks during a press conference with China’s President Xi Jinping at the Great Hall of the People in Beijing on November 9, 2017.

The world’s two largest economies have already applied tariffs to $50 billion of each other’s goods. Talks aimed at easing tensions ended last month without major breakthroughs, and Washington appears emboldened by a sell-off in Chinese markets and a weakening economy.

Trump said Wednesday he was not prepared to make a deal with China “that they’d like to make.” Still, he added, his administration will “continue to talk to China.”

Trump’s remarks to reporters on Friday sparked a 100-point drop in the Dow Jones Industrial Average around 12 p.m. ET, with the apparent escalation in the trade tensions with China.

Huileng Tan contributed reporting.

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