U.S. President Donald Trump has expressed optimism about reaching a trade deal with China by the end of the month, highlighting that the United States has already secured “fair” agreements with South Korea, Japan and the European Union(EU).

[Sound bite: U.S. President Donald Trump]
"So I think we're going to end up having a fantastic deal with China. It's going to be a great trade deal. It's going to be fantastic for both countries, and it's going to be fantastic for the entire world. Thank you very much, thank you."

Speaking at the White House on Monday during a meeting with Australian Prime Minister Anthony Albanese, Trump stated that he has a strong relationship with Chinese President Xi Jinping and expects to meet with him in South Korea in the coming weeks.

Trump is expected to visit South Korea next Wednesday and Thursday, ahead of the Asia-Pacific Economic Cooperation summit set to take place in Gyeongju next Friday and Saturday.

The president remarked that the EU had previously taken advantage of the U.S. but that this is no longer the case, noting that both sides have now agreed to a “very fair” trade deal.

He also emphasized that similar agreements have been reached with Japan and South Korea and expressed confidence that a comparable deal could be finalized with Xi.

Trump concluded by saying that he believes the U.S. and China will leave South Korea with a “very strong” trade agreement, one that will satisfy both nations.