Uncensored Update on Trade Tensions
US may minimize custom duties on Chinese imports, according to the Wall Street Journal's exclusive report.
The drama surrounding tariffs on Chinese goods is far from over - discussions are still up in the air. According to reports, several options are currently on the table.
A White House official spilled the beans to WSJ, revealing that tariffs on Chinese goods could potentially drop to around 50-65%. Contacts hinted that, depending on the product, the US could lower tariffs to as low as 35% for goods that aren't a threat to national security, and a whopping 100% for strategically important goods. The plan allows for a gradual implementation over a five-year period.
Despite the White House's silence on the matter, the cat's out of the bag. President Trump himself confirmed the possibility of a trade deal with China on April 22nd. According to him, this deal would result in "significantly" lower tariffs on Chinese goods. However, he also emphasized that these tariffs wouldn't drop to zero. Currently, we're looking at a total of 145% on Chinese imports, with China retaliating with tariffs of their own at 125%.
Amidst Trump's statements and media reports, the S&P 500 index soared by 2.5% in a day, the Nasdaq 100 surged 3.31% by 17:20 Moscow time. Meanwhile, gold with delivery in June plummeted below $3300 per ounce, after hitting $3500 the day before.
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Quick Facts:
- US currently imposes a total tariff of 145% on Chinese imports, while China retaliates with 125% tariffs (as of April 12, 2025).
- China has removed tariffs on US semiconductors and some aircraft parts, suggesting a selective approach for cooperation.
- President Trump hinted at lower tariffs on Chinese goods in a potential deal, without providing a concrete timeline or negotiations.
- Overall, while there are signs of potential de-escalation, official negotiations or agreements have yet to be made.
- If the White House plan materializes, tariffs on Chinese goods could lower from the current 145% to around 50-65%, with potentially even lower rates for non-threatening goods and as high as 100% for strategically important products.
- The possible phased implementation of these tariffs over a five-year period could have significant implications for multiple industries, including finance, business, and politics.
- The WSJ reported that a White House official revealed these tariff details, suggesting a potential trade deal with China, which President Trump himself confirmed on April 22nd.
- The possible lowering of tariffs could have a positive impact on the general-news sector, as indicated by the surge in the S&P 500 and Nasdaq 100 after the announcement.
- However, it's important to note that, despite the potential for lower tariffs, they are unlikely to drop to zero, as emphasized by President Trump. This means that industries heavily reliant on Chinese imports will still face significant challenges.
