The White House said Tuesday it is “setting the stage for trade with China” on trade as administration officials try to reassure nervous financial markets and investors that progress with Beijing could be imminent.
White House press chief Caroline Leavitt spoke to reporters about the conversation between President Trump and China on trade, telling the administration that the administration is “doing very well on a potential trade deal with China.”
“The president and administration are setting the stage for a contract with China,” Leavitt said at a press conference. “So we feel that everyone involved wants to see a trade deal happening and the ball is moving in the right direction.”
Leavitt added that there is nothing to report whether Trump spoke directly to Chinese President Xi Jinping. She also declined to elaborate on comments from Treasury Secretary Scott Bescent, who told a private conference of investors in Washington on Tuesday that she hopes for “exclusion” in the trade war between the US and China.
“No one thinks the current situation is sustainable,” Bescent said at an event hosted by JPMorgan Chase.Multiple reports.
In addition to the 20% tariff from China, the Trump administration has imposed a 125% “mutual” tariff on Chinese imports to curb the flow of fentanyl to the United States.
China has collected itRetaliation TariffRegarding American goods, it raises concerns about the escalation of a trade war between the two biggest economies in the world.
Trump’s tariffs on China remain intact despite reducing other “mutual” tariffs in dozens of countries by 10% due to the 90-day negotiation window. The president himself has recently been a soft tone in China, expressing optimism that he can secure deals with Beijing and promote personal ties with the president.
Leavitt told reporters Tuesday that the administration received 18 proposals from other countries as part of its ongoing trade negotiations. BescentI said it beforeThe White House focused on brokerage transactions with 15 major economies, including Japan, South Korea and the European Union.
