President Donald Trump has declared a significant reduction in the high tariffs placed on Chinese goods, although they will not be completely abolished.
What Happened: At a White House press conference on Tuesday, Trump addressed earlier remarks made by Treasury Secretary Scott Bessent, who had reportedly characterized the high tariffs as “unsustainable” and stated that he expects ‘de-scalation’ in U.S.-China tariffs.
Trump also assured that the final tariff rate with China would be “substantially” lower than the current 145%. “It won’t be that high, not going to be that high,” Trump said, reported The Associated Press. However, he emphasized, “It won’t be zero.”
Previously, Trump …