Trump Administration is considering a significant reduction in tariffs to Chinese imports, which potentially reduces current rates from 145% to a range of between 50% and 65%, which on Wednesday (April 23) reports a report that is lacking in this matter.
This step is dependent on waiting for business negotiations with Beijing.
Development is governed by The Wall Street Journal, which quoted people who have introduced this matter and said they are investigating the decrease in tariffs in the effort to de-acurate tensions between the United States and China.
The magazine noted: “Chinese tariffs could be reduced to 50% and 65%,” with the aim of the White House official.
Trump: The tariffs ‘will not be so high’
On Tuesday, President Trump signaled optimism about achieving an agreement with China, which could result in significantly lower import obligations. “It won’t be that high,” Trump said as he asked about 145% of the tariff rate. “It won’t be nearby anywhere. If the agreement does not commit, we will conclude an agreement.”
Approach considered
According to Trump Administration magazine, the graded tariff system, similar to the House China hovering committee, will also consider. This approach would apply to:
- 35% of tariffs on goods that are not considered to be a threat to US National Security
- 100%+ tariffs on strategic items such as semiconductors and key raw materials
This phase model would be introduced for five years and aims to balance the economic competitiveness with national security.
Although the conduct is underway, the initiates are cautious that no formal decisions have been made and several options remain reviewed. The discussion reflects the administration attempt to achieve a new balance.
(Tagstotranslate) Trump’s Administration (T) Donald Trump
