China has said it is ready for fresh trade talks with the US, one day after President Donald Trump hinted at reducing high tariffs. Trump called the current 145% tariffs on Chinese goods “very high” and said they would “come down substantially.” His comments offered relief to global markets rattled by trade tensions. In response, China’s Foreign Ministry said the “door for talks is wide open” and warned that trade wars benefit no one. President Xi Jinping echoed this, saying such conflicts harm the global trading system and the world economy. China has imposed 125% counter-tariffs on US goods but still welcomes negotiation. Trump also addressed fears about Federal Reserve Chair Jerome Powell, confirming he had no plans to fire him. He suggested it was the right time to lower interest rates, which helped calm worried investors. Meanwhile, markets surged, with Wall Street and Asian indexes climbing and gold prices falling from recent highs. US Treasury Secretary Scott Bessent and other officials signaled that trade talks may resume soon. He called the tariffs a “reciprocal embargo” but expected de-escalation. As finance leaders gather for IMF and World Bank meetings in Washington, all eyes remain on the progress between the world’s two largest economies.