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White House Considers Lowering China Tariffs Amid Trade Talks
WASHINGTON — The Trump administration is open to reducing tariffs on Chinese imports if negotiations with Beijing move forward, a source familiar with the matter said Wednesday. Any tariff changes would be made jointly and not imposed unilaterally, the source added.
The comments follow a Wall Street Journal report that the White House is evaluating options to scale back the current 145% tariffs on Chinese goods, possibly reducing them to between 50% and 65%. While President Trump declined to confirm specifics, he reiterated his desire for a “fair deal with China.”
A White House spokesperson called the reports “speculation” unless confirmed directly by the president.
Even at reduced levels, tariffs would remain high enough to impact trade flows. German shipping company Hapag-Lloyd reported that 30% of its U.S.-bound shipments from China have already been canceled due to rising costs.
In response to U.S. actions, China has implemented its own 125% tariffs on American goods. Treasury Secretary Scott Bessent acknowledged both nations see current tariff rates as unsustainable but did not comment on when formal negotiations might resume.
U.S. stock markets reacted positively to the news. The S&P 500 rose roughly 3% mid-morning following Trump’s comments and a broader sense of easing trade tensions.
Among possible proposals under review is a tiered system: 35% tariffs on non-sensitive imports and at least 100% on goods deemed strategic, mirroring a draft plan from the House committee on China.
The International Monetary Fund warned Wednesday that prolonged tariff policies could slow global growth and increase debt levels worldwide.
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