The report suggested that the cuts could be as high as 65 percent, and the United States Treasury Secretary Scott Besent, said that de -escalaure conversations are needed before trade negotiations continue.
The administration of the president of the United States, Donald Trump, is reflecting on US rates on Chinese products in the midst of conversations with Beijing, the Reuters news agency reported, citing an unidentified source.
No action would be carried out unilaterally, Reuters reported Wednesday.
The fountain comments followed a report by the newspaper Wall Street Journal (WSJ) that the White House is capturing hairy in Chinese imports in an attempt to discourage tensions. China’s tariffs could lower their current level or 145 percent to between 50 and 65 percent, said the newspaper, citing a White House official.
“We are going to have a fair agreement with China,” Trump told reporters on Wednesday, but did not address the details of the WSJ report. His comments followed the optimistic comments on Tuesday that an agreement for the lowest rates was possible.
The United States Secretary of the United States, Scott Besent, also refused to comment on the history of WSJ, but said that would not be surprised if the tariffs are lowered. Besent said that both countries consider that current rates are unsustainable, but said he doesn’t know when any negotiation could begin. Besent added that it should be a reduction before commercial conversations can process.
“I think both parties are waiting to talk to the other,” said Besent.
Separate conversations between the two countries about addressing the fentanyl epidemic have not yielded results so far, the sources say.
White House spokesman Kush Desai said reports on tariffs were “pure speculation” unless they came directly from Trump.
Still tall
Rate levels are described in the Wall Street Journal report would probably still be high enough to deter a significant part of trade between the two largest economies in the world. The German Hapag-Lloyd charger said Wednesday that 30 percent of its shipments bound for the United States from China have been canceled.
China has retaliate with 125 percent tariffs on US imports, along with other measures.
US actions extended their first earnings from the session after the report. The market had opened great relief among investors after Trump retired from the threats to fire the head of the United States Federal Reserve and said an agreement with China was possible. The Benchmark S&P 500 index increased approximately 3 percent in the middle of Delmor.
The WSJ reported that the discussions remain fluid and several options are on the table. An option would be a stepped approach similar to that proposed by the Committee of the House of Representatives on China at the end of last year: 35 percent of the encumbrances for the articles that the United States does not consider a threat to national security, and ate 100 percent for the articles considered as interest. That bill proposes phases in those taxes for about five years.
In addition to the pronounced tariffs on China, Trump has also imposed a 10 percent rate of the blanket to all other imports from the United States and higher tariffs on steel, aluminum and cars. He has suspended the specific rates of other countries until July 9 and floated on the specific additional levies of the industry on pharmaceutical and semiconductor products. That has discarded financial markets and increased the fears of the global recession.
The International Monetary Fund (IMF) on Wednesday that tariffs will delay growth and push the highest debt worldwide. The IMF, which recently published a global financial stability report, said that the economic growth of the United States would be 1.8 percent for the year, a sharp drop in 2.7 percent that previously predicted.