The US Treasury Secretary Scott Bessent said that President Donald Trump did not propose to unilaterally remove tariffs on Chinese goods.
This is what he said in a comment to journalistsʼ questions after a speech in Washington, Bloomberg reports.
According to him, both sides understand that the current level of tariffs is not sustainable in the long term. So Bessent "wouldnʼt be surprised if tariffs were reduced", but this should be done jointly — with the consent of both sides.
Trump said earlier in the day that US tariffs on Chinese goods would be “substantially reduced, but not to zero,” and that he did not see the need to “play tough” with Chinese leader Xi Jinping. On the same day, Trump separately said the US would “make a fair deal” with China.
Scott Bessent emphasized that the US White House views economic relations with China more broadly than just through the prism of tariffs. Therefore, it also takes into account other barriers to trade, such as government subsidies and administrative restrictions.
However, there is no specific timeframe for the new negotiations yet. Bessent estimates that full trade alignment between the US and China will take two to three years.
- In early April 2025, the US President Donald Trump informed that he would impose tariffs on goods from other countries. The new tariffs hit more than 180 countries and territories (not including Russia, North Korea, Cuba, and Belarus, which are already under sanctions). On April 9, Trump postponed the tariffs. China received the highest tariffs — 145%, while most countries have a base rate of 10%.
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