*{box-sizing:border-box}body{margin:0;padding:0}a[x-apple-data-detectors]{color:inherit!important;text-decoration:inherit!important}#MessageViewBody a{color:inherit;text-decoration:none}p{line-height:inherit}.desktop_hide,.desktop_hide table{mso-hide:all;display:none;max-height:0;overflow:hidden}.image_block img div{display:none}sub,sup{font-size:75%;line-height:0}#converted-body .list_block ol,#converted-body .list_block ul,.body [class~=x_list_block] ol,.body [class~=x_list_block] ul,u .body .list_block ol,u .body .list_block ul{padding-left:20px} @media (max-width:620px){.desktop_hide table.icons-outer{display:inline-table!important}.image_block div.fullWidth{max-width:100%!important}.mobile_hide,.row .side{display:none}.row-content{width:100%!important}.stack .column{width:100%;display:block}.mobile_hide{min-height:0;max-height:0;max-width:0;overflow:hidden;font-size:0}.desktop_hide,.desktop_hide table{display:table!important;max-height:none!important}.reverse{display:table;width:100%}.reverse .column.first{display:table-footer-group!important}.reverse .column.last{display:table-header-group!important}.row-10 td.column.first .border,.row-8 td.column.first .border{padding:5px 5px 15px 25px}.row-10 td.column.last .border,.row-12 td.column.last .border,.row-8 td.column.last .border{padding:5px 20px 25px 5px}.row-12 td.column.first .border{padding:5px 5px 15px 25px;border-bottom:15px solid transparent}}

Business & Economy

Business & Economy

The Big Story

Trump's softer tone

President Trump sought to tamp down a trade war with China on Wednesday, appearing to be optimistic that he can strike a deal to calm nerves in the U.S. markets.

© Getty Images

“We’re dealing with a lot of countries right now and could be with China, but maybe we’ll make a special — you know, a deal — and we will see what it will be. Right now, it’s at 145 percent, that’s very high,” Trump said Wednesday, following remarks the day before when he suggested the China tariff “come down substantially.”

But Trump also gave no indication that the massive tariffs on Chinese goods would be going away anytime soon, something that is sure to keep the markets rattled.

A number of factors contributed to Trump’s decision to leave the door open to negotiating a lower rate with Beijing, including the market reaction and warnings from top business executives, sources who spoke to The Hill outlined.

The president met with CEOs of U.S. retailers, including Walmart, Target, Home Depot on Monday, which had a hand in his tone shift the next day. The negotiations are now also being led by Treasury Secretary Scott Bessent, as opposed to other administration officials.

Read the full report at TheHill.com.

Welcome to The Hill’s Business & Economy newsletter, I'm Aris Folley — covering the intersection of Wall Street and Pennsylvania Avenue.

Did someone forward you this newsletter? Subscribe here.

Essential Reads

Key business and economic news with implications this week and beyond:

Trump signals shift in tone on China tariffs

President Trump sought to tamp down a trade war with China on Wednesday, acknowledging that the 145 percent duty he slapped on Beijing is “very high” while appearing to be optimistic that he can strike a deal with President Xi Jinping to calm nerves in the U.S. markets.