Trump Hints At Lowering Duties Regarding China

However, there's a condition.

US President Donald Trump has hinted at a significant reduction in duties against China. This could signal a potential turnaround in Washington's trade war with Beijing, CNN reported.

The American leader said that ‘145% is very high, and the tariffs will not be that high.’ ‘They will go down substantially. But they will not be zero,’ Trump said during a briefing at the White House.

The words signalled a possible end to the trade confrontation with China. The statement came amid a speech by Treasury Secretary Scott Bessent, who said the current level of tariffs ‘has virtually embargoed trade between the economies’, so he expects de-escalation.

Bessent, speaking at a JP Morgan Chase conference, also said the US goal is to ‘rebalance trade’ rather than completely sever relations. His words sparked gains in the markets, with US indices hitting daily highs and Asian indices rising the following day (Hang Seng +2.5%, Nikkei 225 +2%, Kospi +1.5%).

While the US was raising tariffs, China was responding symmetrically: tariffs on US goods increased to 125%, restrictions were imposed on exports of important minerals, the screening of Hollywood films was restricted, and Boeing aircraft were returned to the US.

Trump, meanwhile, insists: ‘I have very good relations with Xi Jinping’. He said the US would not make the first move, expecting an initiative from China. ‘We're going to be very kind. They will be very kind and we will see what happens..... But at the end of the day they have to make an agreement because otherwise they can't do business in the United States.’

He also added: ‘I think we will live together very happily and ideally we will work together, so I think it will work out very well.’

Beijing confirmed openness to talks, but on the condition of ‘respect’, ‘consistency’ and ‘reciprocity’ from Washington.

Prior to Trump's April 2 imposition of the new duties, China had already named a representative for the talks, but sources said it was not clear to Beijing who to dialogue with in the US. There is speculation that Trump wants to be the negotiator himself, which is at odds with China's approach.

Despite public statements of respect for Xi, Beijing has noticed that Trump has not distanced himself from hostile remarks made by some members of his administration, notably Vice President J.D. Vance, who had previously provoked anger in China with his words about ‘Chinese peasants’.

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