Treasury Secretary Scott Bessent said President Trump will not reduce tariffs on China without an agreement by both governments to de-escalate their trade conflict.

President Trump sought to tamp down a trade war with China on Wednesday, acknowledging that the 145 percent duty he slapped on Beijing is “very high” while appearing to be optimistic that he can

US President Donald Trump has signaled a potential U-turn on his trade war with China, saying the high tariffs on Chinese goods will “come down substantially, but it won’t be zero.”