The Trump administration is considering reducing tariffs on Chinese imports, aiming to ease tensions with Beijing as trade negotiations continue, a source familiar with the matter said on Wednesday.
The Trump administration is exploring the possibility of lowering tariffs on Chinese goods as part of ongoing trade discussions with Beijing, according to a source familiar with the matter. The move would be made in coordination with negotiations rather than as a unilateral gesture.
The deliberations follow a report by the Wall Street Journal stating that the White House is considering reducing tariffs in an effort to de-escalate strained economic relations with China. Citing a White House official, the report suggested tariffs could be reduced to between 50% and 65%, down from the 145% rate President Donald Trump imposed after returning to office in January 2025.
While no final decision has been made, the discussions are ongoing and multiple policy options remain under review, the Journal reported.
The White House has not responded to requests for comment.
Financial markets responded positively to the news. U.S. stocks extended early gains, buoyed by Trump's comments late Tuesday that were perceived as conciliatory regarding China tariffs. His remarks also eased investor concerns following earlier threats to dismiss the Federal Reserve chair. The S&P 500 index rose by 3.3% in mid-morning trading, reaching a two-week high.
On Tuesday, President Trump voiced optimism about securing a trade agreement with China that would include significantly reduced tariffs. However, he also cautioned that if negotiations fail, he would enforce a unilateral deal.
"It won’t be that high," Trump said, referring to the current tariff levels. "It won’t be anywhere near that."
In addition to broad tariff reductions, the administration is reportedly evaluating a tiered tariff structure similar to a proposal made by a House committee on China in late 2024. That framework suggests 35% tariffs on goods deemed non-sensitive to U.S. national security, and rates of at least 100% on items considered strategically important. The plan would phase in those rates over five years.
Türkiye, Pakistan and Saudi Arabia have formalised their new defensive alliance at the grouping’s first high-level meeting held Monday i...
Azerbaijani President Ilham Aliyev and Armenian Prime Minister Nikol Pashinyan have concluded talks in Bishkek, the capital of Kyrgyzstan, as leade...
Qatar has discussed potential investment in Afghanistan’s oil and gas sectors and the construction of a crude o...
Azerbaijani President Ilham Aliyev and Armenian Prime Minister Nikol Pashinyan have concluded talks in Bishkek, the capital of Kyrgyzstan, as leaders gather for the Shanghai Cooperation Organisation (SCO) summit.
Iran has reached an understanding with Oman on transit arrangements through the Strait of Hormuz, but the waterway will remain closed until the U.S. fulfils its commitments, a senior Iranian diplomat said on Saturday.
Iranian Foreign Minister Abbas Araghchi accused U.S. government and Israel-aligned actors of manipulating energy markets to promote the war with Iran.
Russian strikes on the Kyiv region overnight killed 37 people, Ukrainian President Volodymyr Zelenskyy has said. Zelenskyy added that the Ukrainian capital was under "virtually nonstop attack" from drones.
U.S. forces struck two Iranian rocket launchers on Larak Island on Sunday, with Tehran responding by launching ballistic missiles at two U.S. bases in Jordan in the first direct U.S.-Iran military escalation in weeks.
Online fast-fashion retailer Shein is seeking to raise up to $1.77 billion in a Hong Kong IPO after its valuation fell around 70 per cent from its private-market peak four years ago.
Kazakhstan has received a fresh vote of confidence in its economy after S&P Global Ratings upgraded the country’s credit rating, citing stronger public finances, solid reserves and steady economic growth.
AnewZ Business Europe, a new weekday programme, takes viewers inside companies driving growth and innovation across the continent, with Brickken CEO Edwin Mata joining the programme for its first episode with host Chief Global Editor Guy Shone. The show airs every Friday.
Once associated mainly with Muslim-majority countries, Islamic finance has become a global industry. Its assets reached around $5.98 trillion in 2024, according to ICD-LSEG, as more countries explore Shariah-compliant finance.
Fuel restrictions have returned to parts of Moscow and the surrounding region, adding another strain to Russia’s economy as refinery outages and rising imports weigh on the rouble.
You can download the AnewZ application from Play Store and the App Store.
What is your opinion on this topic?
Leave the first comment