The Trump administration is considering slashing the 145% tariff on Chinese imports to as low as 50%, the New York Post reported on Thursday.
In addition, import duties on neighboring South Asian countries could be cut to as low as 25%, a source added.
“They are going to be bringing it down to 50% while the negotiations are ongoing,” an unidentified source told the Post.
The White House dismissed the report as conjecture.
“When decisions on tariffs are made, they will come directly from the president. Anything else is just pure speculation,” a White House spokesperson said in a statement to the New York Post.
The White House currently has broad import taxes of 145% against China, with some sector-specific tariffs as high as 245%.
China has raised its duties on imports of U.S. goods to 125%. On April 4, China also began restricting exports to the U.S. of rare earth materials, which are used in high-tech products such as computer chips and electric vehicle batteries.
China was the third-ranked U.S. trading partner in 2024 at $582 billion in two-way international commerce.
The Trump administration announced on Tuesday that Treasury Secretary Scott Bessent and Trade Representative Jamieson Greer will meet Chinese officials for trade talks this weekend in Geneva.
Chinese officials said they are open to trade discussions with the U.S.
“The Chinese side carefully evaluated the information from the U.S. side and decided to agree to have contact with the U.S. side after fully considering global expectations, Chinese interests and calls from U.S. businesses and consumers,” a Chinese commerce ministry spokesperson told China Daily.
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