The United States might lower its existing 145% tariff on China in the coming weeks, according to Stephen Miran, Chair of the White House Council of Economic Advisers, during an interview.
In an interview with Bloomberg TV on Friday, Stephen Miran stated that although he is not directly participating in the negotiations, he believes former President Donald Trump is determined to secure a deal with China and has a proven ability to do so. He cited the 2019 “phase one” trade agreement as an example of Trump’s capacity to finalize deals despite initial doubts.
“The president has made it very clear that he expects an agreement with China,” Miran said. “And I believe he’s correct.”
While Miran refrained from discussing exact figures or whether high-level talks between Washington and Beijing are planned, he indicated that reducing tariffs would benefit both nations and may happen soon.
“I would be surprised if the current tariff levels remain unchanged just a few weeks from now,” he added.
Earlier in the day, China’s Ministry of Commerce released a statement indicating it is still assessing the current trade environment. Stephen Miran welcomed the ongoing communication between the two sides, stating that continued dialogue—even in the absence of formal announcements—is a constructive sign. “Talking is better than not talking,” he remarked.
When asked whether the U.S. might consider revisiting purchase agreements like the one made with China in 2020, Miran responded that while each trading partner poses different challenges, such agreements “should definitely be on the table.”
He also recognized European initiatives to increase imports of U.S. goods as a possible move toward more balanced trade, though he did not offer any firm predictions.
Although not directly involved in the negotiations, Miran repeatedly highlighted President Trump’s talent for securing unexpected deals.
While specifics remain unclear, Miran’s comments appear to have boosted both cryptocurrency and stock markets. Bitcoin, in particular, is holding strong at the $97,000 level and looks set to challenge the $100,000 mark again, rebounding from panic-driven lows of around $75,000 seen in early April.