WASHINGTON (Reuters) - U.S. President Donald Trump said on Thursday he expects there to be substantive negotiations between the United States and China on trade this weekend and said tariffs couldn't get higher than 145 percent.

China has granted tariff exemptions on select pharmaceuticals, microchips and aircraft engines from its 125% retaliatory tariffs on U.S. goods imposed after President Donald Trump unleashed his tariffs in April.

Trump said the deal increases access for U.S. agricultural products, though he added that the final details were still being written up. Britain says the deal will cut tariffs on U.K. cars from 27.5% to 10% and eliminate tariffs on steel and aluminum.