US President Donald Trump said his administration plans to speak with China, raising the possibility of a potential reprieve on a 10% tariff set to take effect in hours after he delayed levies on Canada and Mexico.

U.S. President Donald Trump will speak with Chinese President Xi Jinping as soon as this week, Trump's spokesperson said, setting up a major diplomatic exchange as the world's two largest economies seek a deal that could avert a broader trade war.

NEW YORK -- The U.S. will pause tariffs on Mexico and Canada for a month while the countries negotiate on border security, but President Donald Trump warned that tariffs on China will go up if his administration cannot reach a deal with Beijing to rebalance trade and fight fentanyl trafficking.