The US government is planning to reduce tariffs on Chinese imports to between 50% and 65% in a bid to ease tensions with Beijing.
The proposed changes would mark a significant shift in the administration’s trade strategy, which has imposed broad levies on Chinese goods during President Donald Trump’s term.
A tiered system is also being considered, with goods deemed non-strategic facing a 35% tariff and strategic goods subject to tariffs of at least 100%.
The proposal includes a five-year phase-in period for the new tariff structure.
President Trump has expressed openness to reducing the current 145% tariffs on Chinese goods, stating they “will come down,” but emphasized they won’t be eliminated entirely.
Truth live news recalled that US Treasury Secretary Scott Bessent has also indicated that the ongoing trade standoff with China is unsustainable and expects the situation to de-escalate soon.
Chinese officials on Wednesday have shown willingness to re-engage in trade talks, but warned that negotiations won’t proceed under ongoing threats.
The move comes after several weeks of escalating tariffs and strained rhetoric between the US and China, which contributed to sharp declines in global markets.