Trump: Will significantly drop the 145% tariff rate on China

According to TheHill, U.S. President Trump stated that he would significantly drop the 145% tariff rate on China, saying "we won't be anywhere near that high," and expressed optimism about reaching a trade agreement. Trump emphasized that without a deal, China would not be able to trade in the U.S. market. The White House stated that it is paving the way for a U.S.-China agreement, with Treasury Secretary Scott Bessent revealing that the trade war is expected to "de-escalate." Previously, Trump postponed "reciprocal" tariffs on other trading partners for 90 days and lowered them to 10%, stating that if no agreement is reached after 90 days, his team would "finalize the deal." Currently, both the U.S. and China are implementing retaliatory tariffs.