Trump Vows 'Fair Deal' with China Amid Tariff Reduction Talks

US-China Trade Negotiations

• 💬 President Donald Trump stated that the US is "actively negotiating" with China on trade, aiming for a "fair deal."
• 📉 A source indicated the White House is considering lowering tariffs on imported Chinese goods, potentially from 145% to 50-65%, to deescalate tensions.
• 📰 This consideration follows a Wall Street Journal report, though Trump did not directly address the specifics.

Tariffs and Economic Strategy

• ⚠️ US Treasury Secretary Scott Bessent commented that high tariffs between the US and China are unsustainable.
• 🎯 Bessent suggested an opportunity for a significant deal to rebalance US manufacturing and reduce consumption.
• 🇨🇳 He noted China's need to shift from export-led growth towards a domestic economy, referencing China's "dual circulation" strategy.

Broader Tariff Landscape

• 📈 Trump has imposed a 10% tariff on all other US imports, along with higher duties on steel, aluminum, and autos.
• ⏳ Targeted tariffs on dozens of other countries were suspended until July 9th.
• 💡 Potential future levies on pharmaceuticals and semiconductors have been floated, impacting financial markets and raising recession fears.