Trump proposed to lower tariffs on Chinese imports to 80% from 145% on eve of negotiations with the country's third-largest trading partner.

Commerce Secretary Howard Lutnick previously suggested tariffs with other countries could be above 10%, even after a deal is reached.

President Donald Trump has floated cutting tariffs on China from 145% to 80% ahead of a weekend meeting among top U.S. and Chinese trade officials as he looks to deescalate the trade war between the world's two largest economies.