US President Donald Trump appeared to soften his stand on China after recent trade clashes as he pursues his economic agenda. Speaking in the Oval Office on Tuesday (local time), Trump also said he was optimistic about improving trade relations with China. “The level of tariffs imposed on Chinese imports would come down substantially, but it won’t be zero,” Trump said, adding that he would be “very nice” in negotiations with Beijing.

The US President also asserted that he had no intention of firing Jerome Powell, head of the US Federal Reserve, after repeatedly criticising him. “But I would like Powell to be a little more active on cutting interest rates,” he said. The announcements led world share markets to gain on Wednesday.