Trump: 145% China Tariff Too High, Will Drop

On Tuesday, April 22, U.S. President Donald Trump indicated a shift in tone on trade with China, stating that he does not intend to pursue an aggressively hardline approach. His remarks came shortly after U.S. Treasury Secretary Scott Bessent warned that the prolonged trade conflict with China is economically unsustainable.

Earlier in the day, Bessent expressed confidence that the ongoing tariff standoff would begin to ease due to its potential negative impact on the U.S. economy. He also suggested that adjustments to tariffs on Chinese imports are likely, which helped trigger a rally on Wall Street. The Dow Jones Industrial Average, Nasdaq, and S&P 500 all closed up more than 2.5%.

Commenting from the Oval Office, President Trump acknowledged the steep tariffs currently in place—some reaching up to 145%—but noted, "That’s very high. It will come down significantly, but it won't be zero."

Scott Bessent remains optimistic about a future trade agreement, even though formal negotiations with Beijing have yet to begin. According to reports, he emphasized that the current tariff levels—up to 125% on U.S. exports and as high as 145% on Chinese goods—amount to a de facto trade embargo.

This development follows Trump's decision on April 9 to suspend a series of reciprocal tariffs for 90 days on countries other than China. The move aims to create room for one-on-one trade agreements with key economic partners.