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.
The U.S. and China are locked in a growing struggle over critical minerals, the materials that power everything from electric vehicles and microchips ...
Greek authorities have arrested a member of the armed forces on suspicion of leaking highly sensitive military information to foreign handlers alleged...
Norwegian prosecutors have launched a corruption investigation into former prime minister Thorbjørn Jagland after newly released documents linked to ...
Russian troops in Ukraine have lost access to Starlink internet terminals after Kyiv and SpaceX moved to block unauthorised Russian use, a disruption ...
Mexican federal officers detained Mayor Diego Rivera on Thursday during coordinated raids that also led to the arrest of the municipality’s security...
Iran’s Islamic Revolutionary Guard Corps (IRGC) unveiled a new underground ballistic missile base on Wednesday (4 February), just over a day before the start of mediated nuclear negotiations with the United States, slated for Friday in Oman.
Rivers and reservoirs across Spain and Portugal were on the verge of overflowing on Wednesday as a new weather front pounded the Iberian peninsula, compounding damage from last week's Storm Kristin.
Morocco has evacuated more than 100,000 people from four provinces after heavy rainfall triggered flash floods across several northern regions, the Interior Ministry said on Wednesday.
A second group of Palestinians receiving medical treatment arrived in Egypt from Gaza via the Rafah border crossing on Tuesday (3 February).
The World Health Organization has added the Nipah virus to its list of the world’s top 10 priority diseases, alongside COVID-19 and the Zika virus, warning that its epidemic potential highlights the global risk posed by fast-spreading outbreaks.
Wall Street ended sharply lower on Tuesday as investors worried about artificial intelligence (AI) creating more competition for software makers, keeping them on edge ahead of quarterly reports from Alphabet and Amazon later this week.
U.S. stock markets finished mixed on Wednesday (28 January) as investors reacted calmly after the Federal Reserve left interest rates unchanged, a decision that had been widely expected and largely priced in.
The S&P 500 edged to a record closing high on Tuesday, marking its fifth consecutive day of gains, as strong advances in technology stocks offset a sharp selloff in healthcare shares and a mixed batch of corporate earnings.
Chevron is in talks with Iraq’s oil ministry over potential changes to the commercial framework governing the West Qurna 2 oilfield, one of the world’s largest producing assets, after Baghdad nationalised the field earlier this month following U.S. sanctions imposed on Russia’s Lukoil.
Argentina's economic activity shrunk 0.3% in November compared with the same month last year, marking the first monthly contraction of 2025, data from Argentina's national statistics agency showed on Wednesday.
You can download the AnewZ application from Play Store and the App Store.
What is your opinion on this topic?
Leave the first comment