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"We'll have news on China. Probably one way or the other, we're going to know over the next three to four weeks," Trump said during a St. Patrick's Day reception from the White House's East Room.
The president remarked that China has been "very responsible and very reasonable."
The world's two largest economies have been embroiled in a trade war the past year, hitting each other with retaliatory tariffs. There have been signs of progress to end the trade dispute, but protection for intellectual property and other structural factors in the Chinese market remain sticking points between Beijing and Washington.
"If that one gets done, it will be something that people will be talking about for a long time," Trump said.
Last month, the Trump administration postponed imposing an additional round of tariffs on Chinese goods. Secretary of State Mike Pompeo said earlier this month the U.S. and China were "on the cusp" of a possible deal.
On Wednesday, Trump said he was in "no rush" to complete a trade deal with Beijing.