President Donald Trump appears to be walking back some of his more extreme positioning on the economy — pivoting yet again on his signature tariff agenda and renewing concerns that his haphazard approach has already done serious economic damage.

The Trump administration on Tuesday offered its latest tone shift on President Donald Trump’s tariffs, in an apparent attempt to steady an increasingly rocky economic picture. Treasury Secretary Scott Bessent signaled that there could soon be a de-escalation in the huge and growing trade war with China.