This week, Chinese and US officials will hold high-level talks aimed at halting their trade war. US officials previously said March 1 was a hard deadline for achieving a deal to avert further tariffs.
Both countries have imposed duties on billions of dollars worth of one another's goods.
Deputy-level talks began this week in Beijing. High-level discussions, led by US Treasury Secretary Steven Mnuchin and Chinese Vice Premier Liu He, will start on Thursday as both sides rush to make progress before the 1 March deadline.
"If we're close to a deal where we think we can make a real deal and it's going to get done, I could see myself letting that slide for a little while," Mr Trump said referring to the March 1 deadline. "But generally speaking, I'm not inclined to do that."
The US has imposed tariffs on $250bn worth of Chinese goods, and China has retaliated by imposing duties on $110bn of US products. In December, both countries agreed to halt new tariffs for 90 days to allow for talks.
The US has said it will increase tariff rates on $200bn worth of Chinese imports from 10% to 25% if the two sides don't strike a deal by 1 March. Mr Trump has also threatened further tariffs on an additional $267bn worth of Chinese products.
