U.S. Treasury Secretary Scott Bessent said on Wednesday that he believes that excessively high tariffs between the U.S. and China will have to come down before trade negotiations can proceed but said President Donald Trump would not unilaterally cut tariffs on Chinese imports.

Scott Bessent told finance leaders that “America first does not mean America alone” in a bid to heal the worldwide rifts caused by Donald Trump’s first 100 days in office. The treasury secretary said Tuesday that the president was not a “trained diplomat” but was simply looking for a “beautiful rebalancing” of world trade after his chaotic tariffs sparked tumult on Wall Street and left the United States increasingly isolated.