Trump news at a glance: president will be 'very nice' to China; Musk to step back from Doge

Donald Trump has said tariffs on goods from China will be reduced "substantially" but "won't be zero", after US treasury secretary Scott Bessent said he expects a "de-escalation" in the trade war between the world's two largest economies. Trump placed import taxes of 145% on China, which countered with 125% tariffs on US goods, causing volatility in the stock market and concern about slowing global economic growth. But the US president on Tuesday said he would be "very nice" to China and not play hardball with Chinese President Xi Jinping. "We're going to live together very happily and ideally work…