00:00And well, President Trump
00:02trade deal with China is
00:05the White House considers
00:06to cool tensions. Treasury
00:09signals a possible break
00:12but markets remain on edge
00:15threats. Take a look at ou
00:17to get no more. We are g
00:21deal with China. It's gon
00:23Donald Trump told reporters
00:25on Wednesday that the U. S
00:27still quote actively neg
00:30with China on trade. This
00:31after a source familiar with
00:33the matter said the White
00:34House is considering lowering
00:35tariffs on imported Chinese
00:37goods pending talks with
00:38Beijing. The source's comments
00:40followed a Wall Street Journal
00:42report that the White House is
00:43considering cutting its tariffs
00:45on Chinese imports in a bid to
00:46de-escalate tensions. Citing a
00:49White House official, the paper
00:50said China tariffs could come
00:52down from their current level of
00:53145 percent to between 50 and
00:5665 percent. Trump spoke with
00:58reporters at the White House, but
01:00did not address the specifics of
01:01the journal report. Everything's
01:03active. Everybody wants to be a part
01:05of what we're doing. They know that
01:07they can't get away with it any longer,
01:09but they're still going to do fine.
01:11Earlier in remarks at the Institute of
01:13International Finance, U.S. Treasury
01:15Secretary Scott Besson said that high
01:17tariffs between the U.S. and China are not
01:19sustainable and that Beijing needed to
01:22change tech. There is an opportunity
01:25for a big deal here that the U.S.
01:28is looking to rebalance to more
01:32manufacturing. The identity of that
01:35would be less consumption. If China
01:38is serious on less dependence on
01:42export lead manufacturing growth and a
01:44rebalancing toward a domestic economy, I
01:49think they use the term dual circulation.
01:52Well, it's right now it's really singular
01:55circulation and if they want to rebalance,
01:59let's do it together. Besson added that the third
02:01quarter of this year is a reasonable estimate for
02:04achieving clarity on the ultimate level of
02:06Trump's tariffs. In addition to steep tariffs on
02:09China, Trump has also imposed a blanket 10 percent
02:12tariff on all other U.S. imports and higher duties on
02:15steel, steel, steel, aluminum, and autos. He has also
02:18suspended targeted tariffs on dozens of other
02:21countries until July 9th and floated additional
02:24industry-specific levies on pharmaceuticals and
02:26semiconductors that has royaled financial markets and
02:30raised fears of recession.
02:34And for more in this, our correspondents with
02:36Trani sent us this report. Listen in.
02:38speaking after his speech at the IMF and World Bank
02:46spring meetings, U.S. Treasury Secretary Scott
02:50Besson pushed back on reports that President Trump
02:53plans to unilaterally drop tariffs on Chinese goods. He
02:59clarified that while both the United States and China
03:02likely agree that current tariffs are quote unquote
03:05unsustainable, any reduction would need to be mutual and
03:11part of a formal negotiation. These comments come amid
03:15speculations reported by the Wall Street Journal that
03:18Donald Trump is eyeing a tariff rollback to ease trade
03:22tensions. Besson also emphasized the need to overhaul the
03:27missions of the IMF and World Bank but reassured that the
03:31United States remains committed to its leadership role in
03:36these global institutions despite rising concerns about a
03:41potential American exit. Susan Tahrani reporting from New
03:45York for We On World is One.
