Investors will anxiously be paying attention to the Economic Club of New York at lunchtime.
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Recent comments from the president and others appear to suggest the two sides are struggling to finish phase one of what was thought to be a three-part deal.
How he describes the current situation will be of interest to the markets.
Trump is also expected to call attention to the strong gains in the stock market and economy as a whole since his election.
Although on Monday, stocks struggled amid concern that the U.S. and China are struggling to get an initial trade deal done, with the S&P 500 slipping as much as 0.6 percent.
On trade, analysts expect any Phase 1 deal to suspend tariffs planned to be imposed on December 15, as well as ramp up Chinese agricultural purchases from the US and address some intellectual property issues in China.