Trump says tariffs on China will 'come down substantially'
Photo: US President Donald Trump (Getty Images)
US President Donald Trump said that tariffs on Chinese goods would “come down substantially" but not canceled completely, reports CNN.
Trump announced a possible turnaround in his trade policy toward China, saying that high tariffs on Chinese goods will “come down substantially, but it won’t be zero.”
According to him, the 145% tariffs imposed earlier are too high, and the situation needs to be adjusted.
These comments came after US Treasury Secretary Scott Bessent said during an investment conference that the trade war with China is unsustainable and needs to be de-escalated.
Bessent expressed hope to reach an agreement shortly to rebalance trade relations.
Following these statements, the US stock markets saw an increase in indices, and Asian stock exchanges also showed positive dynamics.
China, in turn, responded to Trump's and the US' statements by demanding an end to pressure and coercion, offering cooperation based on equality and mutual respect.
Trade disputes between the world's two largest economies have already led to record tariffs, supply chain disruptions, and fears of a global recession.
Negotiations between the US and China
Trump recently again called on China to reach him to start negotiations to resolve the trade war between the world's two largest economies.
Instead, according to Western media, China said it wants to see a number of steps from the administration of President Donald Trump before Beijing agrees to trade talks with the United States.
