Trump Reportedly Weighs Slashing China Tariffs By More Than 50%
The Trump administration is considering a plan to cut its new U.S. tariffs against Chinese goods by more than a half to as low as 50% in a matter of days, The New York Post newspaper reported Thursday.
The Post cited unnamed White House sources as saying the administration could cut its recently imposed 145% tariffs on Chinese goods down to 50% to 54% even as trade talks with Beijing are taking place.
"They are going to be bringing it down to 50% while the negotiations are ongoing," an unnamed source told the Post.
The paper also said the administration would cut import duties on goods from other South Asian nations to 25%.
The news comes as U.S. Treasury Secretary Scott Bessent and the U.S. Trade Representative Jamieson Greer prepare to meet Saturday in Switzerland with their Chinese counterparts for trade talks.
U.S. President Donald Trump ordered huge tariffs on most Chinese goods last month, prompting Beijing to retaliate with 125% import duties on many American items.
However, Wall Street has reacted negatively to the tariffs and counter-tariffs, fearing that a global trade war could boost U.S. inflation and cut American employment.
Some business leaders have also warned that the high tariffs could lead to empty U.S. store shelves for some goods, along with significantly heftier prices for American consumers.
The $Dow Jones Industrial Average (.DJI.US)$, $Nasdaq Composite Index (.IXIC.US)$ and $S&P 500 Index (.SPX.US)$ initially fell by double-digit percentages in the days after Trump unveiled tariffs against some 180 countries' goods.
That said, Trump announced a deal Thursday to reduce newly imposed tariffs on goods from Britain -- and hinted an agreement with China could be next given that his 145% duties are so large.
"It's at 145 [percent], so we know it's coming down," the president told reporters while answering questions about the U.K. trade deal. "I think we're going to have a very good relationship."
The Post said that a White House spokesman issued a statement telling the paper: "When decisions on tariffs are made, they will come directly from the president. Anything else is just pure speculation."
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Jerry Kronenberg
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S&P 500's Put/Call Ratio Hits 5-Year Low: Fear Fades and Bottom Near?
73867242 : please dont be over the weekend. i need to cashout on this
74751672 : source？
PurnomoKris : Only Trump can do this!
Smalltimeplayer : What you say is what you get.
Wowhaha : It's hilarious. Now I know, I'm scared. I was still looking forward to its recession. It seems like there will be a loss again.. so annoying.
102367007 : prata again. At most china also cut 50% which is not tradable, which business have 50% profit margin to sacrifice? in the end, maybe no empty shelves in US but prices still going up e.g. toilet paper hahhahaa. might as well use the green back to wipe backside, cheaper? hahaha
FXC : This news already speculated and priced in already?
Always Hungryy : one man who tariffs on.
one many to tariff cut in half.
one man with too much power.
71134923 : Isn't this Bearish? Everyone can't possibly think it's Bullish, that's ridiculous.
74864279 71134923 : Why is it Bearish?
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