President Donald Trump hinted at a possible resolution to the escalating trade tensions between the United States and China, indicating a reluctance to further increase tariffs that have rattled markets. Trump emphasized the importance of maintaining affordable prices to encourage consumer spending, suggesting a more cautious approach to tariff hikes. Despite initially imposing 10% tariffs on most imports, Trump postponed implementing higher levies pending negotiations, while escalating tariffs on Chinese goods to 145% in response to Beijing’s retaliatory measures.

The President’s remarks signal a shift away from broad-based tariff increases on multiple countries, following market turmoil in early April. He expressed optimism about the potential for a trade deal with China, highlighting ongoing communication between the two nations. However, high-level discussions necessary for a comprehensive agreement have reportedly been limited.

Trump also addressed the issue of TikTok, acknowledging a pending deal involving the social media platform but indicating that its finalization would likely be delayed until progress is made on the trade front. The President has granted extensions for ByteDance, the China-based owner of TikTok, to divest its U.S. assets, linking the resolution of this issue to broader trade negotiations.

While details of the talks between the U.S. and China remain undisclosed, Trump’s statements suggest a cautious yet hopeful approach towards resolving trade disputes and related issues such as the fate of TikTok. The evolving dynamics between the two economic powerhouses indicate a complex and interconnected relationship that could impact global markets and technological landscapes.