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White House Considers Slashing China Tariffs, in Some Cases by More Than Half: Report
- The United States administration is considering reducing tariffs on Chinese goods from 145 percent to between 50 and 65 percent, according to unnamed sources cited by Reuters.
- U.S. Treasury Secretary Scott Bessent indicated that both nations see current tariff levels as unsustainable, although specifics on negotiations were not provided.
- President Donald Trump stated, "We are going to have a fair deal with China," while emphasizing the need to resolve the trade war.
- The International Monetary Fund reported that these tariffs would slow global growth and increase debt, warning about the potential for economic consequences in the U.S.
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Oil Down Nearly 3% As White House Tariff Talk Rumors Fly
Oil prices declined on Wednesday even amid reports that the White House is contemplating significant cuts to tariffs on Chinese imports, a move that could reshape global trade dynamics and influence energy markets.
·London, United Kingdom
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Washington agrees to be divided. First, it says Trump is considering drastically lowering China's tariffs. Now they are rowing back. Beijing should please go to the US, not the other way around. However, for economic Nobel laureate Stiglitz it is clear that there can only be one winner in this case.
The U.S. and China have high tariffs. The U.S. Treasury Secretary makes it clear that the high tariffs are not sustainable, but the White House also says what is not going to happen.
Coverage Details
Total News Sources98
Leaning Left7Leaning Right18Center17Last UpdatedBias Distribution43% Right
Bias Distribution
- 43% of the sources lean Right
43% Right
L 17%
C 40%
R 43%
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