India, April 23 -- Asian stocks followed Wall Street higher on Wednesday after U.S. President Donald Trump backed down from threats to dismiss Federal Reserve Chair Jerome Powell and signaled that 145 percent tariffs on Chinese imports will "come down substantially".
However, Trump noted that he would set the terms of a deal if Beijing did not enter talks.
U.S. Treasury Secretary Scott Bessent was reported earlier on Tuesday saying that there will be a de-escalation in U.S.-China trade tensions but noting negotiations with Beijing have not yet started and would be a "slog."
The dollar rebounded and longer-dated Treasuries rallied as Trump's comments helped calm investor fears over the Fed's independence and the possible threat to U.S. mo...