Trump Promises Significant Reductions in China Tariffs Without Complete Removal
Release time:
2025-04-23
On April 22 local time, Trump announced at a White House press conference that he plans to "make big cuts to tariffs on Chinese goods, but not remove them completely." This statement came after Treasury Secretary Scott Bessent told investors in a private meeting earlier that day that the U.S.-China trade war "would ease soon." Bessent said the current tariff system "cannot last" and stressed America’s goal is "competition, not separation from China."
The S&P 500 rose 2.5% after these comments. Official data shows the U.S. and China currently have punitive tariffs of 145% and 125% on each other’s goods. Bessent noted that "both sides agree the situation must change." White House press secretary Caroline Levitt added that the Trump administration is "actively preparing trade agreements with China" and that talks are "moving in the right direction." Experts say technical disagreements remain, but both countries are working through multiple channels to break the deadlock.
