The Trump administration is considering a significant reduction of tariffs on Chinese imports from 145% to between 50% and 54%, coinciding with high-level trade discussions underway in Switzerland. This adjustment aims to facilitate a trade agreement amid ongoing negotiations. Concurrently, tariffs on imports from neighboring south Asian countries may be reduced to 25%. Retail leaders who met with President Trump indicated that a more sustainable tariff structure is necessary, with some retailers proactively asking vendors for pricing based on anticipated lower rates, reflecting careful preparation for the potential tariff change.
The signals we are getting is that the dam will break by the end of this week or next, that there will be an adjustment, said Jay Foreman.
They are going to be bringing it down to 50% while the negotiations are ongoing, said a source of the trade tax on China.
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