Pelosi: Trump 'had to do' something on China, but might have made a wrong move

Speaker Nancy Pelosi (D-Calif.) said Tuesday that President Trump was right to challenge China's trade practices, adding that it may not have been done the right way. 

"They cannot continue to violate our trade relationship. I think the president had to do something about it. I'm not sure he went the right way," Pelosi said in an CNBC interview. "I think we should have done it multilaterally, with the EU and the rest."

"Whatever path he wanted to take to improve a trade relationship, do not empower the other side to hurt your farmers and your consumers," she added. 

In the escalating trade war with China, the president has imposed tariffs on more than $500 billion in Chinese goods and Beijing has retaliated with levies on U.S. products. U.S. industries such as agriculture have been affected by the tariffs. 

The countries are expected to hold talks in October, and CNBC reported that they are also expected to discuss issues this week. 

Trump said Tuesday that there could soon be a deal with Beijing. 

"There'll be a deal maybe soon, maybe before the election or one day after the election," he told reporters. "It'll be the toughest deal anybody's ever had to make from the standpoint of China, and they know that."