The White House announced on Tuesday its efforts to create a groundwork for a trade agreement with China, easing concerns among financial markets and investors about the potential for progress with Beijing.
During a press briefing, White House Press Secretary Karoline Leavitt shared insights into President Donald Trump’s discussions on the matter, noting commendable advancement towards a trade pact with China.
Leavitt stated that the Trump Administration is positioning themselves for a potential deal with China, believing that there is a shared interest in reaching an agreement on trade.
Separately, Treasury Secretary Scott Bessent spoke to a group of investors in Washington, expressing optimism about a de-escalation of the ongoing trade tensions between the U.S. and China, thinking that the current situation is not sustainable.
Earlier, Trump has hinted at a softer approach in trade negotiations with China, indicating a willingness to significantly reduce tariffs if both nations can finalize an agreement. This potential easing marks a shift from his previously hard-line stance as financial markets experience fluctuations.
Speaking on Tuesday in Washington, Trump remarked that tariff levels would be “substantially” decreased, though not entirely abolished.
