The president said he and Chinese President Xi Jinping still need to sign off on a preliminary deal, even though he called it "done."

President Donald Trump said the deal with China is "done." His former Commerce Secretary told Business Insider it's far from comprehensive.

The Trump administration is “highly likely” to extend next month’s deadline for countries to agree one-for-one trade deals — so long as they are engaged in “good-faith negotiations,” Treasury Secretary Scott Bessent told lawmakers Wednesday.