In a surprising turn of events, President Donald Trump on April 17 hinted that the ongoing tit-for-tat tariffs between the U.S. and China may soon come to a close, a move that has left markets in a frenzy. Additionally, he suggested that negotiations regarding the much-debated social media platform TikTok are unlikely to move forward until these trade tensions are resolved.

"I don’t want tariffs to rise any further because at some point, it just discourages purchases," Trump stated at the White House, indicating that the stakes are high for both nations.

His remarks reflect a significant shift in stance following the market chaos triggered by tariff hikes on April 2, which saw the introduction of a 10% tax on many imports. While Trump has proposed higher tariffs, he is now considering lowering them to foster consumer spending.

Currently, tariffs on Chinese goods soar to 145% after retaliatory measures from Beijing. However, China has recently signaled it will not engage in a further escalation of this tariff battle, indicating that the trade climate might not deteriorate any more than it already has.

Amidst these developments, Trump indicated that communication between the U.S. and China had ensued, and he expressed hope for a potential resolution. However, reports suggest that meaningful, high-level discussions necessary for a breakthrough are notably lacking.

When pressed about the specifics of these talks or if they involve Chinese President Xi Jinping, Trump remained tight-lipped.

In addition to trade, the fate of TikTok—owned by China-based ByteDance—hangs in the balance. Trump has postponed a legal deadline for ByteDance to divest its U.S. assets, suggesting that any resolution concerning TikTok will be contingent upon the outcome of trade negotiations.

"We've got a deal for TikTok that's on hold until we figure out the trade situation," Trump confirmed, indicating that the fate of the popular app is intertwined with the larger trade dispute.