U.S. Could Drop China Tariffs to as Low as 50%

The U.S. is considering dropping its 145% tariffs on China to between 50% and 54%, said The New York Post in a new report, citing sources close to the negotiations.

“They are going to be bringing it down to 50% while the negotiations are ongoing,” said one of the sources. The significant reduction could come as soon as next week.

U.S. to Reportedly Reduce Tariffs on China, Other Countries

The U.S. will also reportedly slash the tariffs on south Asian countries to 25%. All eyes are on Treasury Secretary Scott Bessent and U.S. Trade Representative Jamieson Greer as they head to Switzerland to meet with China over the weekend.

The iShares China Large-Cap ETF (FXI) is receiving a boost from the news, bringing its daily gain to 1.68%.