Trump says China will be 'buying a lot of product' from US amid summit talk

President TrumpDonald John TrumpCNN's Camerota clashes with Trump's immigration head over president's tweet LA Times editorial board labels Trump 'Bigot-in-Chief' Trump complains of 'fake polls' after surveys show him trailing multiple Democratic candidates MORE said Thursday China will be “buying a lot of product” from the U.S. amid reports he is expected to announce plans to hold a trade summit with Chinese President Xi Jinping.

Speaking to reporters at the White House, Trump voiced optimism that talks with China are moving “very well along” and would eventually yield a trade agreement.

“They very much want to make a deal,” Trump said. “It has to be a great deal. If it is not a great deal, we’re not doing it.”

The New York Times and The Wall Street Journal reported earlier in the day that Trump's announcement will likely come Thursday, when he will meet with Chinese Vice Premier Liu He, who is in Washington, D.C., for trade negotiations.

The White House did not immediately respond to a request for comment.

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The details of the summit, such as timing and location, were not immediately clear. White House officials previously floated the president's Mar-a-Lago resort in Florida as a possible site for the meeting.

The development comes at a time when the two economic superpowers press toward a comprehensive deal that would end a months-long trade dispute.

Officials have engaged in several rounds of talks over the last several months as the two sides seek to hammer out differences on tariffs, intellectual property protections, the criminalization of fentanyl and cyber issues.

The president has been publicly bullish about the prospect of reaching a deal, tweeting early Thursday morning that talks were "moving along nicely." He has maintained that he and Xi will have to meet before giving a final stamp of approval.

Larry Kudlow, the president's top economic adviser, told reporters on Wednesday at a Christian Science Monitor event that U.S. representatives made "good headway" during a recent trip to China.

"But we’re not there yet," he added.

— This report was updated at 1:12 p.m.