No, Trump hasn't offered to cut tariffs on China — not yet. Despite hinting this week that U.S. tariffs “will come down substantially,” Treasury Secretary Scott Bessent made it clear there's no unilateral offer on the table. Speaking in D.C., Bessent doubled down: the administration is still playing the long game, looking at non-tariff barriers, subsidies, and broader trade imbalances — a reset that could take 2–3 years. Investors hoping for quick relief from the U.S.-China trade drag may need to recalibrate their timelines.
Still, there's a softening in tone. Trump says he doesn't see the need to “play hardball” with Xi Jinping anymore — a sharp contrast to the trade-war chest-thumping of years past. Bessent noted the most stable tie is between the two leaders themselves, hinting diplomacy might do more heavy lifting than policy this time around. But without a clear roadmap or deadline, markets are stuck parsing soundbites for direction. This uncertainty puts globally exposed names like Tesla (TSLA, Financial) in a wait-and-watch mode, especially as China remains a critical growth engine.
But while China cools, India heats up. The U.S. is “very close” to a trade agreement with New Delhi, according to Bessent — though he signaled it'll start as a broad framework, not a full-blown treaty. For investors, that's a strategic cue: the U.S. is laying down backup plans. Companies with India ambitions — from EV makers to software giants — could find themselves on the early edge of a shift in trade flows. The decoupling from China may take time, but the redirection? That's already in motion.
