The Trump administration is reviewing 18 trade proposals, and President Trump’s trade team is meeting with 34 countries this week, White House Press Secretary Karoline Leavitt said. Leavitt added they are “setting the stage for a deal” with China.

The intrigue: Leavitt's statement followed reports from Bloomberg and CNBC that Treasury Secretary Scott Bessent told a private group he anticipates the U.S.-China trade war will de-escalate soon. Chinese imports face a 145% tariff, while China has retaliated and also imposed export restrictions on crucial minerals.

The White House said Tuesday that it was “setting the stage for a deal with China” on trade as administration officials seek to reassure nervous financial markets and investors that progress with