Treasury Secretary Scott Bessent said President Trump will not reduce tariffs on China without an agreement by both governments to de-escalate their trade conflict.

The White House said Tuesday that it was “setting the stage for a deal with China” on trade as administration officials seek to reassure nervous financial markets and investors that progress with

The Trump administration would look at lowering tariffs on imported Chinese goods pending talks with Beijing, a source familiar with the matter said on Wednesday, adding that any action would not be made unilaterally.