President Donald Trump said the United States is “getting very close” to concluding a trade agreement with China and would meet President Xi Jinping before the end of the year if the deal is sealed. Trump added that Xi had requested the meeting and that any encounter would be contingent on a finalized accord. Commerce Secretary Howard Lutnick, speaking in a Fox Business interview two days later, signalled the administration is likely to prolong the current tariff truce with Beijing by 90 days beyond the 12 August expiry. He described the extension as the most probable outcome of continuing negotiations aimed at converting the cease-fire into a broader agreement. Lutnick also said the United States expects to collect about $50 billion in tariff revenue each month under recently increased levies. He noted that technology companies would be exempt from new semiconductor duties if they shift production to U.S. soil, underscoring the administration’s push to expand domestic chip manufacturing.