Amid the escalating trade war, signs of reconciliation are emerging between the US and China, potentially leading to tariff reductions.
By Aniket Chakraborty
Apr 26, 2025
White House sources reveal that President Trump may approve cutting tariffs on China by more than half, marking a significant shift in trade policy.
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The White House is contemplating a staggered approach, indicating a gradual de-escalation of tensions between the two global powers.
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Trump himself acknowledged that the current 145% tariff on China is "very high" and expressed his intention to reduce it, though not to zero.
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Treasury Secretary Scott Bessent emphasized the need for deeper collaboration between the US and China to maintain global financial stability.
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Image Credit | @SecScottBessent | X
In his speech, Bessent suggested that while the US is open to collaboration, China must make significant changes in its trade practices.
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A decision on the tariff reductions is expected in the "very near future," signaling a potential turning point in US-China trade relations.
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A de-escalation of the trade war could have significant positive effects on the global economy, particularly in international trade and financial markets.
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Bessent's remarks at the Institute of International Finance show a shift towards cooperation, with the US acknowledging the importance of global partnerships.
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Image Credit | @SecScottBessent | X
As both nations move towards negotiations, the trade landscape could see major shifts, with consequences for global trade and diplomacy.