Sources close to the White House have revealed that the administration is contemplating a significant reduction in tariffs on Chinese goods, potentially slashing them to between 50% to 65% in an effort to ease tensions with Beijing. This move is seen as a strategic attempt to de-escalate the ongoing trade war between the two nations.
As part of this plan, the government is also considering adopting a tiered tariff system, similar to the one proposed by the House China Committee last year. Under this system, tariffs would be imposed at 35% on goods deemed not to pose a national security threat, while essential goods would be subject to a minimum tariff of 100%.
The development comes as a response to growing concerns about the impact of the trade war on the US economy and global markets. The move is seen as a positive step towards finding a resolution to the ongoing trade tensions between the US and China.
Source: The Wall Street Journal