WASHINGTON, April 17 – U.S. President Donald Trump on Thursday indicated that the escalating tariff battle with China might soon come to a close and that any decision regarding the social media app TikTok could be postponed. Speaking at the White House, Trump said he was cautious about raising tariffs too high, noting that doing so could hurt consumer demand. At a certain point, people stop buying, he explained, suggesting that he might reduce tariffs or avoid raising them further to keep goods affordable.

His remarks reflect a softer stance following the market turmoil triggered by sweeping tariff increases announced on April 2. Although he imposed a 10% tariff on most imports, Trump held off on higher rates pending further talks. However, tariffs on Chinese goods were raised sharply, now amounting to 145%, after China responded with its own countermeasures. Last week, China indicated it wouldn’t continue escalating the trade fight, signaling a willingness to de-escalate.

Trump said that China had made contact after the tariffs were imposed, and he was hopeful about a possible agreement. Nonetheless, insiders told Reuters that while some communication continues, there has been little meaningful high-level dialogue to advance negotiations. Trump also avoided saying whether Chinese President Xi Jinping was directly involved in talks. Regarding TikTok, Trump mentioned that the deal for China-based ByteDance to divest its U.S. operations is in place, but implementation will be delayed until the broader trade situation with China is resolved. “We have a deal for TikTok,” Trump said, “but it depends on China, so we’ll hold off until everything is sorted out.”

Disclaimer: This image is taken from Reuters.