From the Wall Street Journal, Updated ET:
Levies could be cut by more than half in some cases although President Trump hasn’t yet made a final decision
The Trump administration is considering slashing its steep tariffs on Chinese imports—in some cases by more than half—in a bid to de-escalate tensions with Beijing that have roiled global trade and investment, according to people familiar with the matter.
President Trump hasn’t made a final determination, the people said, adding that the discussions remain fluid and several options are on the table.
One senior White House official said the China tariffs were likely to come down to between roughly 50% and 65%. The administration is also considering a tiered approach similar to the one proposed by the House committee on China late last year: 35% levies for items the U.S. deems not a threat to national security, and at least 100% for items deemed as strategic to America’s interest, some of the people said. The bill proposed phasing in those levies over five years.
The White House didn’t immediately respond to requests for comment.
Trump said Tuesday he was willing to cut tariffs on Chinese goods, saying the 145% tariffs he imposed on China during his second term would come down. “But it won’t be zero,” he said. The development was welcomed news to investors who had been spooked by the White House’s aggressive moves in recent weeks....
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