U.S. President Donald Trump said on Thursday he expects there to be substantive negotiations between the United States and China on trade this weekend and said tariffs couldn't get higher than 145 percent.

President Donald Trump said he would not consider lowering the United States' 145% tariffs on China in order to spur trade-war negotiations with Beijing. Trump flatly answered "no" when asked at the White House if he was open to pulling back on the steep import duties in order to get China to the negotiating table.

President Donald Trump firmly rejected the possibility of lowering the 145% tariffs on China, a move that could facilitate trade negotiations with Beijing. A meeting regarding this issue is scheduled for the coming days in Switzerland.