U.S. President Donald Trump said on Friday he was "OK" with raising taxes on the wealthiest Americans, as his fellow Republicans consider scaling back the scope of the ambitious tax-cut package they aim to pass this year.

President Donald Trump suggested lowering tariffs on China ahead of trade talks. By how much? From current 145 percent levels down to 80 percent. China currently has 125 percent tariffs on U.S.-made goods. Trump’s treasury secretary and Chinese officials will meet this weekend.

The way President Donald Trump sees it, beating China in a trade war should be easy. After all, his logic goes, the Chinese sell Americans three times as much stuff as Americans sell them. Therefore,

The meeting is the strongest sign yet that the world's two biggest economies are ready to de-escalate their trade war.