President Trump expressed optimism Tuesday about a possible trade agreement with China, suggesting the current 145% tariff rate on Chinese goods will be “substantially” reduced. Speaking from the Oval Office, Trump said the final rate would not return to zero but would be far below current levels.
The remarks came as the administration sought to ease investor fears over prolonged trade tensions. White House press secretary Karoline Leavitt said the U.S. is “setting the stage” for a deal and noted progress in talks. Treasury Secretary Scott Bessent reportedly echoed that sentiment in a private meeting, saying a de-escalation is expected soon.
Financial markets responded positively, with stocks rising during and after Trump’s statements.
Trump emphasized a positive relationship with Chinese President Xi Jinping and said the 90-day pause on reciprocal tariffs has opened the door for deals with multiple countries. The administration has received 18 proposals from global trading partners since the pause began.
Sources
Discover more from News Facts Network
Subscribe to get the latest posts sent to your email.
