A new WSJ report claims tariffs on China could be cut by more than half.
Transcript:
Markets reacted kindly to the Wall Street Journal’s report that President Trump is considering scaling back tariffs on China. The Dow, S&P, and Nasdaq all finished in the green on April 23, just a day after the Journal’s story about the possible reduction.
As it stands, the Trump Administration has imposed 145% tariffs on China. But according to the report, one White House official says that number could be cut by more than half.
Trump says the U.S. will have a “fair deal” with China and that the U.S. is actively engaging with Chinese officials.
However, despite the Journal’s report and the market optimism, the administration said not so fast.
A White House spokesman said “President Trump has been clear: China needs to make a deal with the United States of America. When decisions on tariffs are made, they will come directly from the president. Anything else is just pure speculation.”
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