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White House Considers Slashing China Tariffs, in Some Cases by More Than Half: Report
- The Trump administration is considering reducing tariffs on Chinese imports by more than half to ease tensions with Beijing, according to people familiar with the matter.
- Tariffs could decrease from 145% to between 50% and 65%, potentially affecting trade between the U.S. and China.
- Treasury Secretary Scott Bessent emphasized the importance of balancing trade between the two countries, suggesting a cooperative approach.
- White House spokesperson Kush Desai stated that reports about tariff reductions are 'pure speculation' without Trump's confirmation.
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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 Right19Center20Last UpdatedBias Distribution44% Center
Bias Distribution
- 44% of the sources are Center
44% Center
15%
C 44%
R 41%
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