President Donald Trump Tuesday warned that failure to get a trade deal with China will prompt more tariffs. “If we don’t make a deal with China, I’ll just raise the tariffs even higher,” US President told reporters at the White House.

Trump’s latest tough comment came as markets are watching intensely for signs of progress in the two economic superpowers’ attempt to reach a so-called ‘phase one’ partial deal taking the heat out of a growing trade war.