US President Donald Trump said his proposed 100 percent tariff on goods from China would not be sustainable, but blamed Beijing for the latest impasse in trade talks that began with Chinese authorities tightening control over rare earth exports.

Asked whether such a high tariff was sustainable and what that might do to the economy, Trump replied, "It's not sustainable, but that's what the number is."

"They forced me to do that," he said in an interview with Fox Business Network that was broadcast on Friday.

Trump unveiled additional levies of 100 percent on China's US-bound exports a week ago, along with new export controls on "any and all critical software" by November 1, nine days before existing tariff relief was set to expire.

The new trade actions were Trump's reaction to China expanding its export controls on rare earth elements.

Trump also confirmed he would meet with President Xi Jinping in two weeks in South Korea – a meeting the US president had cast doubt on last week – during the Apec summit.

"We're going to meet in a couple of weeks. We're going to meet in South Korea, actually with the President Xi and other people, too," Trump said in an interview.

The meeting would be the first encounter between the leaders since Trump returned to power in January. The pair had two phone calls this year.

The Apec summit will take place on October 31 and November 1 in the South Korean city of Gyeongju.

The softening in tone and affirmation of his intent to meet with Xi helped stem some of Wall Street's early losses on Friday.

Major US stock indices, which have been rattled over the last week by Trump's abrupt re-imposition of steep levies on Chinese imports and by credit worries among regional banks, were up modestly in early trading.

Meanwhile, in another indication of a potential thaw in tensions, Vice Premier He Lifeng and US Treasury Secretary Scott Bessent will hold a call on Friday to discuss ongoing trade negotiations between the two countries, CNBC reported on Friday. (Reuters/AFP)