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 three major Wall Street indexes surged sharply after the announcement of a 90-day tariff reduction agreement between the U.S. and China. The S&P 500 reached its highest levels since early March, boosting investor optimism.
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