Meanwhile, President Trump on Wednesday said he had reached a trade deal with Vietnam, one week ahead of a July 9 deadline for tariffs to snap back to higher levels for US partner

President Donald Trump’s new trade deal with Vietnam sends a clear signal about where US tariffs on Chinese goods might ultimately land, as talks between Washington and Beijing continue following their recent truce.

But the level of trade success Trump will have achieved by next week looks to fall short of his goals. Trump’s trade adviser Peter Navarro touted “90 deals in 90 days” in April. As the deadline approaches though, others in the Administration are lowering expectations.