In a new social media post on Sunday, Trump repeated his claim that tariff revenue could "completely" eliminate income tax. He suggested that the focus will be on people making less than $200,000 a year.

“It will be a BONANZA FOR AMERICA!!! THE EXTERNAL REVENUE SERVICE IS HAPPENING!!!” Trump wrote.

-ABC News' Kelsey Walsh

During a press gaggle on Air Force One, President Donald Trump was asked what it would take for him to reduce tariffs on China.

"Well, I'm not going to drop 'em unless they give us something that's, you know, substantial. Otherwise, I'm not going to drop 'em. It'll all work out. Those things always work," Trump said.

When asked what he would consider "substantial" to achieve a deal with China, Trump said that he wants to have China more open to U.S. businesses and products.

"Well, free up China, you know, let us go in and work China because, frankly, that's what we want -- we wanted and then we almost got it. And then they backed out of that deal. We had it, to go into China and sell our product, sell our wares. In other words, it's called 'open China.' That would be great. That'd be a big win. But I'm not even sure I'm going to ask for it because they don't want it open," Trump said.

-ABC News' Michelle Stoddart

ABC News Senior Political Correspondent Rachel Scott asked President Donald Trump as he was departing the White House when he spoke to President Xi Jinping, considering China's repeated denials of his claims talks are underway.

"You said you have spoken to President XI. When did that happen? Because China says it hasn't happened?" Scott asked Trump.

"I’ve spoke to him numerous times," Trump said. "So we're leaving and going to Rome to be attending the funeral of Pope Francis. Some of you are going to go, anybody going? And going to be very interesting. We're going to meet with a lot of the foreign leaders. They want to meet. Trade deals are going very well. I think Russia and Ukraine, I think they're coming along, we hope, very fragile."

The president was then pressed twice more on when he spoke to Xi.

"I'll let you know at the appropriate time. Let's see if we can make a deal," he told one reporter.

Asked by Time magazine about trade adviser Peter Navarro’s prediction of "90 deals in 90 days," President Trump claimed he has already made 200 deals.

Trump: I’ve made 200 deals.

You’ve made 200 deals?

Trump: 100%.

I’m just curious, why don’t you announce these deals that you’ve solidified?

Trump: I would say, over the next three to four weeks, and we're finished, by the way.

You’re finished?

Trump: We’ll be finished.

Speaking before the Institute of International Finance, Treasury Secretary Scott Bessent leveled criticism of the World Bank and International Monetary Fund, urging them to go "back to basics" in their focus as financial institutions, but also offered support, stressing the United States' desire to continue its leadership role.

"America First does not mean America alone. To the contrary, it is a call for deeper collaboration and mutual respect among trade partners," Bessent said. "Far from stepping back, America First seeks to expand U.S. leadership in international institutions like the IMF and World Bank."

The U.S. commitment to the institutions is notable, as some feared the U.S. could walk away from the IMF and World Bank under President Donald Trump.

"The IMF has suffered from mission creep," Bessent said while criticizing the IMF and World Bank.

"The IMF was once unwavering in its mission of promoting global monetary cooperation and financial stability. Now it devotes disproportionate time and resources to work on climate change, gender, and social issues," Bessent said, adding that these are "not the IMF's mission."

This criticism comes one day after the IMF warned that the U.S. and the global economy will be hit hard following Trump's tariffs.

— ABC News' Molly Nagle and Kelsey Walsh