President Donald Trump said on Tuesday that the 145% tariff on China won’t stay that high, signaling a potential easing of tensions after Treasury Secretary Scott Bessent warned against a prolonged trade war with the communist country.
During a press conference at the White House, Trump acknowledged that the 145% tax on Chinese imports “is very high,” adding, “It won’t be anywhere near that high.” The president did not say when the tariff rate could drop or if he is waiting for China to agree to any deal in return for a lower tariff.
“It will come down substantially, but it won’t be zero,” Trump added.
Trump’s comments come after Bessent told investors in a closed-door summit on Tuesday that a trade war against China is unsustainable, Bloomberg reported. Bessent reportedly added that he is hopeful the tension between the United States and China will ease in the coming months as the two countries seek to work out a deal. He urged those in attendance to remain patient as a comprehensive deal with China could still take two to three years.
The Trump administration landed on a 145% tariff on Chinese imports after multiple rounds of retaliatory moves between the two countries, and includes a 20% tariff that Trump placed on China in February, citing its role in fentanyl trafficking. China has hit back at the United States with a 125% tariff on U.S. goods.
Stocks and the U.S. dollar jumped following Bessent’s remarks. Asked about the Treasury Secretary’s comments, Trump acknowledged that the stock market was up, but did not say if he agreed with Bessent that the trade war with China is unsustainable, according to the Associated Press.
“We’re going to be very nice,” Trump added. “They’re going to be very nice, and we’ll see what happens. But ultimately, they have to make a deal, because otherwise they’re not going to be able to deal in the United States.”
White House Press Secretary Karoline Leavitt said on Tuesday that 18 countries have submitted trade proposals to the president following Trump’s “Liberation Day” tariffs, which affected nearly every country in the world. This week alone, Trump’s trade team — which includes Bessent and Commerce Secretary Howard Lutnick — has meetings with 34 countries, according to Leavitt.
On Monday, China warned that it would punish countries that agree to trade deals with the Trump administration, saying the United States “has abused tariffs on all its trading partners under the banner of so-called ‘reciprocity,’ while at the same time forcing all parties to start so-called ‘reciprocal tariff negotiations’ with it.”
