Reuters President Donald Trump said on Tuesday that trade progress with China had been made but that tariffs could still be "substantially" increased. His comments sowed uncertainty about the fate of an interim trade agreement between the two largest economies. Businesses and investors around the globe were watching closely for signs that negotiations remained on track. Visit Business Insider's homepage for more stories. President Donald Trump on Tuesday vacillated between optimism toward trade negotiations with China and renewed escalation threats, sowing uncertainty about the fate of an interim trade agreement between the largest economies. In a highly anticipated speech at the Economic Club of New York, Trump said that the first part of a deal with China could be finalized "soon" but that tariffs would be increased if it isn't.