The world's two largest economies have been embroiled in a trade last year, hitting each other with retaliatory tariffs. There have been signs of progress towards the trade dispute, but protection for intellectual property and other structural factors in the Chinese market remain sticking points between Beijing and Washington.
"If that one gets done, it will be something that people will be talking about for a long time, "Trump said.
Last month, the Trump administration postponed imposing an additional round of tariffs on Chinese goods. Secretary of State Mike Pompeo said earlier this month the U.S. and China were "on the cusp" of a possible deal.
On Wednesday, Trump said he was in "no rush" to complete a trade deal with Beijing.