The Trump administration is considering cutting the tariffs that US President Donald Trump imposed on Chinese goods by half, Wall Street Journal reported on Wednesday, citing people familiar with the matter.
According to the report, the trade duties on imports from China could be reduced to somewhere between 50% and 65% in an effort to ease tensions with the east-Asian country, although the decision has not been made yet, as several options are reportedly being considered. The report also stated that the White House is pondering a tiered approach to tariffs, similar to the one proposed by the US House committee last year, which entailed lower tariffs on goods that the US determines not to be a "threat to national security."
Trump previously said that the tariffs on China will come down "substantially," while White House Press Secretary Karoline Leavitt confirmed that the US president "set the stage" for the deal already.
