(Bloomberg)—President Donald Trump said that he expects to announce new trade deals with unspecified countries “rapidly,” as markets fluctuate in the wake of his escalating trade war with China.

Trump made the remark as he met with lawmakers to discuss U.S. penalties against Chinese telecom manufacturer ZTE Corp. Earlier, central bankers meeting in Portugal including Federal Reserve Chairman Jerome Powell expressed concern about damage to the global economy from trade tensions.

“Changes in trade policy could cause us to have to question the outlook,” Powell said during a panel discussion at the conference in Sintra, Portugal. “For the first time, we’re hearing about decisions to postpone investment, postpone hiring.”