Trump added he would delay a deal on TikTok until the trade issue with China is worked out. He told reporters U.S. tariffs on Chinese goods might not go higher and may even go lower.

"There will be a trade deal 100%," Trump said ahead of a luncheon at the White House with Italian Prime Minister Giorgia Meloni. "I fully expect it."

U.S. President Donald Trump on Thursday signaled a potential end to the tit-for-tat tariff hikes between the U.S. and China that shocked markets, and that a deal over the fate of social media platform TikTok may have to wait.