Trump weighs slashing China tariffs 50% to 65% to help ease tensions: report
The White House is considering slashing its steep 145% tariff on Chinese imports, in some cases by more than half, to ease heated trade tensions with Beijing, according to a report.President Trump’s massive tariff on China – which could raise prices on goods in the US and hamper company earnings – will likely be lowered to between 50% and 65%, a senior White House official told The Wall Street Journal. His administration is also considering a tiered approach like the one proposed by the House committee on China last year, with at least 100% rates on crucial imports and lower 35% levies on items that do not pose national security risks, sources told the Journal.The White House is not currently looking to unilaterally slash tariffs on China, a White House official told The Post.Any such move would have to come through negotiations with Beijing, they added.The president has not issued a final decision yet, and several options remain on the table, the sources said.“President Trump has been clear: China needs to make a deal with the United States of America.
When decisions on tariffs are made, they will come directly from the President.Anything else is just pure speculation,” White House spokesperson Kush Desai told The Post.Separately on Wednesday, Treasury Secretary Scott Bessent reiterated to reporters at a roundtable discussion in Washington that neither the US nor China believes the current tariffs are “at sustainable levels.”“As I said yesterday, this is the equivalent of embargo, and a break between the two countries in trade does not suit anyone’s interest,” Bessent said.Late on Tuesday, Trump hinted that Americans could soon see lower taxes on Chinese imports.The 145% rate on China is “very high, and it won’t be that high…No, it won’t be anywhere near that high.
It’ll come down substantially,” Trump said.Investors welcomed the news, sending US stocks on a rally that lasted through Wednesday and regained losses from earlier in t...