President Trump and Treasury Secretary Scott Bessent hinted at a trade-war deescalation with China, as Wall Street hoped the US was preparing for an off-ramp from the weeks-long trade battle. “145% is too high, it will come down substantially,” Trump said of the level of tariffs on Chinese imports. He said he was optimistic about trade talks, adding that he plans to be “very nice” to China to reach a deal. Trump’s comments came after Bessent told investors in a closed-door summit Tuesday that he sees a deescalation in the US-China tariff situation, prompting a US stock rally on Tuesday that carried into Wednesday. Bessent called the tit-for-tat tariffs with China unsustainable, echoing the sentiments shared with Yahoo Finance last week that he was optimistic about “clarity” on tariffs. …China said it is open to trade talks with the US but struck a still-defiant tone.