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Trump eyes August trade deal with Japan, says 'not ready' for China pact

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Trump eyes August trade deal with Japan, says 'not ready' for China pact

U.S. President Donald Trump said a trade deal with Japan could come in August, while noting that Washington is "not ready" to make a separate pact with China.

"We will be announcing some things, probably in August, that will be very good for both countries," Trump said May 27 during a four-day state visit to Japan, the Nikkei Asian Review reported. Trump reportedly added that both camps are working to even out their trade imbalances.

Trump said earlier on Twitter that a trade deal could wait until after Japanese elections in July and that agriculture and beef were key in ongoing talks. Japanese Prime Minister Shinzo Abe said during a joint press conference that both camps have agreed to accelerate talks.

The U.S. is "not ready" to make a deal with China as negotiations between the two camps have stalled, Trump said, warning that tariffs imposed on Chinese imports "could go up very, very substantially, very easily."

"But I think sometime in the future China and the U.S. will absolutely have a great trade deal," Trump added.