Trump news at a glance: president will be ‘very nice’ to China; Musk to step back from Doge

Donald Trump says tariffs on China will be dropped substantially' as IMF warns of major negative shock' from tariffs - key US politics stories from 22 April

Donald Trump has said tariffs on goods from China will be reduced substantially" but won't be zero", after US treasury secretary Scott Bessent said he expects a de-escalation" in the trade war between the world's two largest economies.

Trump placed import taxes of 145% on China, which countered with 125% tariffs on US goods, causing volatility in the stock market and concern about slowing global economic growth.