Donald Trump said that Huawei, the Chinese telecommunications network company, was “very dangerous” but could still be “included” in a trade deal with Beijing, as the US president announced a $16bn bailout package for farmers hit by escalating tariffs.

Speaking at the White House on Thursday as financial markets suffered a new day of losses stemming from trade tensions with China, Mr Trump said there remained a “good possibility” that the negotiations with Beijing could get back on track. 

After talks with China broke down earlier this month, Mr Trump moved quickly to slap new tariffs on Chinese imports, but also opened another front in the economic conflict by placing Huawei — one of China’s leading global technology companies — on an export blacklist run by the US commerce department.