Trump Signals Major Tariff Cut—But China Won’t Get Off Easy [WATCH]

President Donald Trump said Tuesday evening that tariffs on Chinese imports will be reduced “substantially,” while emphasizing that some level of tariffs will remain in place to ensure fair trade practices.

Speaking from the Oval Office, the president said the current 145% tariff rate will not be permanent.

The high tariffs were initially imposed as part of a broader effort to rebalance trade relationships with countries that have long maintained barriers against U.S. exports.

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On April 2, President Trump announced a slate of reciprocal tariffs, targeting nations based on the trade restrictions they impose on American goods.

China received one of the highest rates, prompting a swift response from Beijing.

“I’m sure 145% is very high, and it won’t be that high, not going to be that high,” Trump told reporters Tuesday.

“It got up to there. We were talking about fentanyl where, you know, various elements built it up to 145. No, it won’t be anywhere near that high.”

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The president did not provide a specific number for what the revised tariffs would be, but noted they would be “substantially” lower than the current rate, while reaffirming that the U.S. will maintain a firm stance on trade fairness.

“It’ll come down substantially, but it won’t be zero. It used to be zero,” Trump said.

“We were just destroyed. China was taking us for a ride and just not going to — it’s not going to happen. We’re going to be very good to China. I have a great relationship with President Xi, but they would make billions and billions and billions of dollars a year, and they were building a military out of the United States on what they made.”

The back-and-forth between Washington and Beijing escalated following Trump’s initial announcement, with China imposing retaliatory tariffs of its own.

On April 9, the U.S. responded by increasing tariffs on Chinese imports from 104% to 125%, while implementing a 90-day tariff pause for other nations to allow for trade negotiations.

According to the White House, the revised 125% figure was added on top of a previously existing 20% tariff, bringing the total effective rate to 145% on all goods imported from China.

The New York Times confirmed the updated figures in a report published April 10.

Despite the sharp tariff hike, the president indicated Tuesday that reductions are on the horizon.

“It will not be anywhere near that number,” Trump said, referencing the 145% rate.

“But they’re going to do very well, and I think they’re going to be happy, and I think we’re going to live together very happily and ideally work together. So I think it’s going to work out very well.”

U.S. Treasury Secretary Scott Bessent also commented on the status of the trade dispute during a speech Tuesday, suggesting that a “de-escalation” was likely and necessary.

“A prolonged tariff war between the U.S. and China would be unsustainable,” Bessent said, according to the Associated Press.

Trump’s remarks come as the administration continues to press for trade conditions that it says reflect the true value of American products and labor, and prevent foreign nations from exploiting the U.S. economy through unbalanced trade practices.

Negotiations between U.S. and Chinese officials are expected to continue in the coming weeks.

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