Major US-China trade deal possible 'rather soon', says Donald Trump

President Donald Trump on Friday said a major US-China trade deal could emerge in the near future, saying that China's position has been weakened by the economic impact of the tariffs war.

"China wants to make a big and very comprehensive deal. It could happen, and rather soon!" he tweeted.

Trump said that China's decision to back off from new tariffs on cars and auto parts reflected the pain inflicted by the United States in its trade war.

"China just announced that their economy is growing much slower than anticipated because of our Trade War with them. They have just suspended US Tariff Hikes. U.S. is doing very well," Trump said.

Earlier Friday, China halted extra punitive duties that had been imposed this summer. They now fall from 40 per cent to 15 per cent -- the same rate imposed on all foreign-made vehicles.