Dow Jones Industrial Average futures were slightly higher after President Donald Trump endorsed cutting the tariff rate on China before weekend talks, but still leaving it a pretty severe level.

Futures tied to the Dow were higher by 0.1%. S&P 500 futures were up 0.3%. Nasdaq-100 futures climbed 0.3%.

“80% Tariff on China seems right! Up to Scott B.,” the president said on Truth Social ahead of talks lead by Treasury Secretary Scott Bessent with China counterparts in Switzerland this weekend.

Trump has left a 145% tariff on China unchanged despite issuing a 90-day pause on higher rates for most countries last month. But there’s been speculation lately that the administration would lower the rate significantly to de-escalate negotiations and jumpstart talks. Trump’s Truth Social suggests he’s willing to do this, but the new rate he suggests is still higher than many expected. Bloomberg News reported earlier that the rate could be lowered below 60% as soon as this week.

It was also unclear if the president is talking about a long-term tariff rate on China or a temporary one during negotiations.

Nonetheless, market sentiment has improved this week with Trump on Thursday announcing a preliminary trade agreement with the U.K., which is the first deal between the U.S. and a global trading partner since Trump’s “reciprocal” tariff announcement last month. Traders hope this will establish a framework for the U.S. to quickly strike more deals with major nations, even though a 10% tariff rate on the U.K. appears to be the baseline for the globe.

Trump even noted that the 10% rate represents the lower end of what other countries can expect, and said in comments after the U.K. deal “some will be much higher because they have massive trade surpluses.”

“While trade with the UK pales in comparison to trade with our neighbors to the North and South, and especially in comparison to China, it is an important test case and a model for what could be accomplished,” said Chris Zaccarelli, chief investment officer at Northlight Asset Management. “If the administration can follow this up with additional agreements, it would go a long way toward healing a stock market that has been battered and bruised this year.”

Stocks rose in the previous session though major averages ended the day off the highs, with Dow advancing 0.6% and the S&P 500 adding nearly 0.6%. The Nasdaq Composite climbed about 1.1%.

Week to date, the S&P 500 is on pace for a 0.4% decline, while the Nasdaq is on track to drop 0.3%. The Dow is toting a modest gain of 0.1%, heading for its third positive week in a row.

Tech shares led premarket gains with Tesla and Apple slightly in the green.