Treasury Secretary Scott Bessent denied a Wall Street Journal report that the White House is considering unilaterally slashing tariffs on Chinese imports, saying that both sides need to mutually take down tariff levels before trade talks can begin.

US President Donald Trump has signaled a potential U-turn on his trade war with China, saying the high tariffs on Chinese goods will “come down substantially, but it won’t be zero.”

President Trump said 145% tariffs on Chinese imports will "come down substantially" as his administration expressed optimism about a trade deal.