WASHINGTON: United States President Donald Trump says American tariffs on Chinese imports will come down “substantially” from the current rate of 145 percent.
“It won’t be that high, not going to be that high,” he told an Oval Office press conference on Tuesday, local time.
Mr Trump said he believes a tariff deal with China could happen “pretty quickly,” adding he isn’t going to “play hardball” during negotiations.
“They’re gonna do very well, and I think they’re going to be happy, and we’re gonna live together very happily and ideally work together,” he said.
“So I think it’s gonna work out very well.”
His comments came after US Treasury Secretary Scott Bessent said in a speech on Tuesday that the ongoing tariffs showdown against China was unsustainable and that he expects a “de-escalation” in the trade war between the world’s two largest economies.
But in a private speech in Washington for JPMorgan Chase, Mr Bessent also cautioned that talks between the US and China had yet to formally start.
Details of the speech were confirmed to The Associated Press by two people familiar with the remarks who insisted on anonymity to discuss them.
“I do say China is going to be a slog in terms of the negotiations,” Mr Bessent said, according to a transcript obtained by AP.
“Neither side thinks the status quo is sustainable.”
