U.S. President Donald Trump told reporters Tuesday during a news conference that tariffs would 'come down substantially,' but wouldn't disappear completely. Experts say rates would need to drop to 10 or 20 per cent in order for trade to return to some kind of normalcy.

U.S. Financial commentator for The Financial Times Robert Armstrong, publisher of the Bulwark Sarah Longwell, and anchor and correspondent for Bloomberg News David Gura join Nicolle Wallace to discuss the crumbling confidence in Trump's handling of the economy as China pushes back against the official White House narrative.

Treasury Secretary Scott Bessent said President Trump will not reduce tariffs on China without an agreement by both governments to de-escalate their trade conflict.