Online Reporter
The Trump administration said on Tuesday that the 145 percent tariffs imposed on Chinese imports will eventually “come down substantially” while expressing optimism about future talks to reach a US-China trade deal, US media reported.
The US government’s seemingly softening tone indicates that it is encountering huge difficulties in achieving its initial goals when announcing steep “reciprocal tariffs,” which have resulted in US domestic financial market fluctuations and potential recessions, a Chinese expert said.
he expert stressed that the US tariff bullying is unsustainable and will inevitably harm US economy.
“145 percent is very high, and it won’t be that high,” US President Donald Trump told reporters in the Oval Office on Tuesday, USA Today reported.
“No, it won’t be anywhere near that high. It’ll come down substantially. But it won’t be zero — used to be zero,” the US President said. “We’re going to be very nice, they’re going to be very nice, and we’ll see what happens,” he said, according to the report.
“The US seemingly softening tone underscores that the US tariff policy has shown a significant discrepancy between its actual outcomes and its initial goals,” Bao Jianyun, dean and professor of the Department of International Politics, School of International studies at Renmin University of China, told the Global Times on Wednesday.
US stock and bond market fluctuations, along with growing domestic opposition from companies, economists and consumers, also add pressure on the US government to soften its hard stance on its steep tariffs, Bao said.
Treasury Secretary Scott Bessent said earlier on Tuesday in a closed-door speech that the ongoing tariffs showdown against China is unsustainable and he expects a “de-escalation” in the trade war between the world’s two largest economies, the Associated Press (AP) reported.
“Neither side thinks the status quo is sustainable,” it said, citing a transcript of the meeting.
US White House press secretary Karoline Leavitt told reporters on Tuesday “The president and the administration are setting the stage for a deal… the ball is moving in the right direction,” The Hill reported. — Global Times.
