President Donald Trump said the United States is “getting very close to a deal” with China that would extend the bilateral trade truce, according to remarks broadcast on CNBC. Trump added that he would consider meeting President Xi Jinping later this year if negotiators can finalise the agreement. People familiar with the discussions said the prospective deal aims to maintain lower tariffs and ease U.S. export restrictions on rare-earth magnets and certain technologies—measures first adopted in a preliminary accord earlier this year. The current truce is set to lapse on Aug. 12, raising pressure on both sides to lock in a follow-on pact. Negotiations accelerated last week when Treasury Secretary Scott Bessent met Chinese Vice-Premier He Lifeng in Stockholm for a third round of talks in three months. Bessent said the meetings produced the “makings of a deal” but cautioned it was “not 100% done.”