President Donald Trump has hailed “warmer feelings” between the US and China on trade as officials from both countries were close to a truce that would remove the looming threat of tariff increases between the world’s two largest economies. 

Ahead of a meeting in the White House with Liu He, China’s vice-premier, on Friday, Mr Trump suggested an agreement was within reach. “Good things are happening at China Trade Talk Meeting. Warmer feelings than in recent past, more like the Old Days. I will be meeting with the Vice Premier today. All would like to see something significant happen!” he wrote on Twitter.

Mr Trump’s meeting with Mr Liu was set for 2.45pm, following the Chinese delegation’s negotiating session with Steven Mnuchin, the US Treasury secretary, and Robert Lighthizer, the US trade representative.