The White House is reportedly considering slashing tariffs on Chinese imports from a baseline rate of 145% to 50%-65%, a senior White House official told the Wall Street Journal. The administration is also considering a "tiered approach,

The Trump administration would look at lowering tariffs on imported Chinese goods pending talks with Beijing, a source familiar with the matter said on Wednesday, adding that any action would be in conjunction with negotiations and not made unilaterally.

US President Donald Trump has signaled a potential U-turn on his trade war with China, saying the high tariffs on Chinese goods will “come down substantially, but it won’t be zero.”