U.S. Treasury Secretary Scott Bessent said on Wednesday that he believes that excessively high tariffs between the U.S. and China will have to come down before trade negotiations can proceed but said President Donald Trump would not unilaterally cut tariffs on Chinese imports.

President Trump hasn’t offered to take down U.S. tariffs on China on a unilateral basis, Bloomberg News quoted Treasury Secretary Scott Bessent as saying. Bessent answered questions from reporters Wednesday,

Treasury Secretary Scott Bessent told private investors during a meeting on Tuesday that the spiraling trade war between the United States and China was unsustainable and that he expects a "de-escalation" soon,