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.
U.S. President Donald Trump has called for Iran to pay compensation for decades of deaths and damage, adding a new demand to peace talks as Tehran see...
A criminal court in Damascus has sentenced former Syrian President Bashar al-Assad to death in absentia for premeditated murder, torture, arbitrary de...
Russia’s state nuclear corporation Rosatom plans to increase its workforce at Iran’s Bushehr Nuclear Power Plant to 100 specialists by the autumn,...
One hundred years after the First World War and more than eighty years after the devastation of the Second World War gave rise to the United Nations, humanity once again finds itself living in an age of permanent crisis.
Flights arriving at Catania airport in eastern Sicily were suspended after volcanic ash from a new eruption of Mount Etna drifted into the airspace around the airport, disrupting operations at one of Italy’s busiest aviation hubs.
For months, efforts to secure the Red Sea have focused on what is happening in the water. Naval deployments have increased, governments have expanded maritime cooperation and shipping companies have adapted to persistent security threats.
Greenland has issued a “strong warning” to a U.S. oil company linked to President Donald Trump after drilling equipment was brought ashore without the required government approvals, according to British media.
A deal on a new route for vessels through the Strait of Hormuz is "very close," Iranian Foreign Minister Abbas Araghchi has said, while warning that the reopening of the waterway depends on the U.S. meeting other conditions, including paying compensation to Iran.
U.S. data analytics firm Palantir Technologies has reported a 93 per cent year-on-year jump in second-quarter revenue, even as the company faces continued criticism over its work with Israel's military and allegations linking its technology to the war in Gaza.a.
Rising trade across the Caspian Sea is strengthening Georgia’s role as a logistics hub and could help the country develop higher-value industries, according to the Asian Development Bank (ADB).
Ford raised its full-year earnings forecast after reporting stronger-than-expected second-quarter adjusted profit, as resilient demand for its vehicles and operational improvements helped offset tariff-related costs.
SK Hynix reported record quarterly profit on Wednesday, but its shares slumped 10 per cent after the South Korean chipmaker fell short of investor expectations built around the artificial intelligence (AI) boom.
Oil prices have fallen more than six per cent as a pause in U.S.-Iran hostilities eased fears of wider supply disruption around the Gulf.
You can download the AnewZ application from Play Store and the App Store.
What is your opinion on this topic?
Leave the first comment