The Wall Street Journal sources is reporting that the White House was reportedly mulling cutting China tariffs to de-escalate the trade war. There is likely to come to between 50 – 65%.
- 35% tariff on nine strategic items
- 100%+ tariffs on goods tied to national security
- phased in over five years
On Powell,
- Pres. Trump reportedly swayed by Treasury Secretary Bessette and commerce Sec. US Commerce Secretary Lutnick to not fire Powell
MORE: If they are to ratchet down the tariffs, the thought is that it would not be done unilaterally. That the action would be with some sort of negotiations.
Great…50 – 65% tariffs are still going to create a price shock/supply problem
This article was written by Greg Michalowski at www.forexlive.com.