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 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.

US president suggested income tax be reduced - 'maybe even completely eliminated' - for people making less than US$200,000 a year US President Donald Trump suggested on Sunday that his sweeping tariffs would help him reduce income taxes for people making less than US$200,

Members of Donald Trump's cabinet gave conflicting messages on Sunday about whether negotiations with China over tariffs are taking place, as the Republican president has asserted. The Trump administration signaled openness last week to de-escalating a trade war between the world's two largest economies that has raised fears of recession.

U.S. Treasury Secretary Scott Bessent on Sunday did not back President Donald Trump's assertion that tariff talks with China were under way and said he did not know if the U.S. president had talked to Chinese President Xi Jinping.