President setting the stage for a deal with China,

• U.S. is "setting the stage" for potential trade deal with China, White House says

• The Trump administration on Tuesday signaled the possibility of cooling trade tensions between the U.S. and China.

  Why it matters: Investors are hoping for deals that might roll back the steep tariffs on Chinese goods that are expected to roil the global economy.

  What they're saying: "We're doing very well with respect to a potential trade deal with China," White House press secretary Karoline Leavitt told reporters.

• "The president and the administration are setting the stage for a deal with China," Leavitt added. "Everyone involved wants to see a trade deal happen and the ball is moving in the right direction."
• U.S. is "setting the stage" for potential trade deal with China, White House says