Beijing, China - China indicated it will open the door to negotiations after President Donald Trump as well as the US Treasury chief on Tuesday said they expect a de-escalation of the trade war.

Trump on Tuesday said the 145% tariffs on China were "very high" and added the number will "come down substantially, but it won't be zero."

"Ultimately, they have to make a deal because otherwise, they're not going to be able to deal in the United States," Trump told reporters at the White House.

"China was taking us for a ride, and it's just not going to happen. We're going to be very good to China – I have a great relationship with President Xi," he claimed. "But they're going to do very well, I think they'll be happy."

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Trump's comments were reflected by US Treasury Secretary Scott Bessent, who on Tuesday said the tariff regime was equivalent to a reciprocal trade embargo that is unsustainable.

Bessent said Beijing needs to rebalance its economy and stressed the US does not want to totally decouple from China. Instead, he expects Chinese import tariffs to come down "substantially" and the trade war to de-escalate.

Seemingly in response to comments from Trump and Bessent, China's foreign ministry indicated it was willing to begin negotiations with Washington and said its doors were "wide open" for trade talks.

China had previously responded to Trump's trade war with 125% tariffs on imports from the US, as well as steep curbs on the trade of agricultural goods.

"China pointed out early on that there are no winners in tariff wars and trade wars," Chinese foreign ministry spokesperson Guo Jiakun told reporters on Wednesday. "The door for talks is wide open."