U.S. President Donald Trump said tariffs on Chinese imports will be reduced “substantially” from the current 145% rate.
Trump has said that tariffs on China will come down and he won't play hardball
4/23/2025
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“It won’t be that high, not going to be that high,” Trump said during a press conference in the Oval Office on Tuesday.
He added that he believes a trade deal with China could be reached “pretty quickly,” and emphasized he isn’t looking to “play hardball” in negotiations.
“They’re going to do very well, and I think they’re going to be happy, and we’re going to live together very happily and ideally work together,” Trump said. “So I think it’s gonna work out very well.”
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His remarks followed comments from U.S. Treasury Secretary Scott Bessent earlier Tuesday, in which Bessent called the current tariff standoff with China “unsustainable” and said he expects a “de-escalation” in the ongoing trade dispute between the world’s two largest economies.
Speaking privately at a JPMorgan Chase event in Washington, Bessent also noted that formal negotiations with China had not yet begun.
“I do say China is going to be a slog in terms of the negotiations,” Bessent said, according to a transcript obtained by the Associated Press. “Neither side thinks the status quo is sustainable.”
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