Liu He, China's vice premier and top trade negotiator, will have dinner with President Donald Trump's trade team Thursday evening in Washington, just hours before the U.S. will hike tariffs on $200 billion in Chinese goods.

Liu will dine with U.S. Trade Representative Robert Lighthizer and other U.S. officials as the world's two largest economies try to salvage a trade deal, White House press secretary Sarah Huckabee Sanders said. Liu is not expected to meet with President Donald Trump on Thursday.

Markets will be watching for any clues or updates to leak out of the dinner. U.S. stock futures open at 6 p.m. ET. Stocks declined at the opening bell Thursday morning after Trump said during a Wednesday night campaign rally that China "broke the deal."

Investors have followed the talks closely as they hope the U.S. and China can avoid widening their trade conflict and damaging the global economy. Asked whether the White House — which closely watches financial markets — is prepared for the market reaction Friday if no deal takes shape, Sanders responded, "We're always prepared."