Trump Blinks on China Tariffs

“President Trump has signaled a potential U-turn on his trade war with China amid continued market volatility,” CNN reports.

“Trump’s remarks appear to mark a rhetorical climbdown after weeks of tough posturing and tit-for-tat retaliation that sent tariffs on China beyond a staggering 145%.”

Said Trump: “It won’t be anywhere near that high. It’ll come down substantially. But it won’t be zero.”

“Trump made the comments when asked about Treasury Secretary Scott Bessent’s remarks earlier in the day that the high tariff rates between the United States and China have effectively embargoed trade between the economies.”