Treasury Secretary Scott Bessent denied a Wall Street Journal report that the White House is considering unilaterally slashing tariffs on Chinese imports, saying that both sides need to mutually take down tariff levels before trade talks can begin.

US President Donald Trump has signaled a potential U-turn on his trade war with China, saying the high tariffs on Chinese goods will “come down substantially, but it won’t be zero.”

The American Sheep Industry Association says a large chunk of domestic wool is shipped to China, and with those exports now caught up in a trade war, some farmers are getting a lot less for their wool.