Trump Says Lower Tariffs Depend on China

U.S. President Donald Trump on Wednesday expressed optimism about reaching a “fair deal” with China on trade, though his senior officials provided little clarity on how Washington plans to ease the escalating tariff dispute with Beijing.

When asked if the U.S. was in discussions with China, Trump assured reporters that his country would secure a fair deal, adding that everything was progressing actively.

He mentioned that the timing of any potential tariff reductions would depend on China, while also noting his positive relationship with Chinese President Xi Jinping and his hope for a resolution.

Trade tensions between the U.S. and China have intensified as Trump increased tariffs on Chinese imports earlier this year, imposing an additional 145% tariff on many goods in response to what Washington sees as unfair practices. In retaliation, Beijing implemented new 125% tariffs on U.S. goods.

Despite Trump’s comments suggesting a potential agreement, the specifics of ongoing negotiations remain unclear. U.S. Treasury Secretary Scott Bessent revealed earlier on Wednesday that the two countries were not yet engaged in talks aimed at lowering tariffs.

“I think both sides are waiting to speak to the other,” he said at an event on the sidelines of the International Monetary Fund and World Bank’s spring meetings in Washington.”

He reiterated that there has been no unilateral offer from President Trump to reduce duties on Chinese goods.

According to him, the exceptionally high tariffs imposed by both nations on each other’s products must be lowered before any meaningful negotiations can take place.

“I don’t think either side believes that the current tariff levels are sustainable, so I would not be surprised if they went down in a mutual way.”

While Trump has quickly implemented sharp tariffs on various countries and sectors, he has also been quick to grant certain exemptions. Recently, he provided temporary relief for tech products such as smartphones and chip-making tools.

He could potentially expand these exemptions. The Financial Times reported on Wednesday that Trump might exempt car parts from some tariffs on Chinese imports, alongside steel and aluminum tariffs.

Trump stated on Wednesday that he was not considering any changes to US auto tariffs but pointed out that tariffs on Canada could increase concerning cars.