Trump told reporters his country would have a “fair deal with China,“ adding that “everything’s active” when asked if Washington was talking to Beijing.
Beijing in turn has countered with new 125 percent tariffs on US goods.
“I think both sides are waiting to speak to the other,“ he said, at an event on the sidelines of the International Monetary Fund and World Bank’s spring meetings in Washington.
Not ‘sustainable’
“I don’t think either side believes that the current tariff levels are sustainable, so I would not be surprised if they went down in a mutual way,“ he added on the sidelines of an Institute of International Finance forum.
But he said he had no timeframe on how soon bilateral talks could take place.
While Trump has swiftly rolled out sharp tariffs on different countries and sectors, he has also been quick to introduce certain exemptions -- most recently some temporary reprieve for tech products like smartphones and chipmaking tools.
Separately, Bessent said Wednesday that he did not have a stand on whether the president had the authority to fire Federal Reserve Chair Jerome Powell if he wanted to.
Earlier Wednesday, Bessent said in a speech that Beijing’s export-reliant economic model is “unsustainable” and “not only harming China but the entire world.”
But Bessent maintained that “America first does not mean America alone.”
He insisted that the administration’s moves are broadly a call for “deeper collaboration and mutual respect among trade partners,“ while taking aim at “intentional policy choices” by other countries that he said have hollowed out US manufacturing and put its security “at risk.”
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