from Zero Hedge
And just like that, confirming weeks of media speculation, Trump has folded with the Dow Jones/WSJ reporting that not only will Trump not impose the new tariffs set to come into effect on Dec 15, but will cut existing tariffs by up to 50%.
- U.S. Negotiators Offer to Cut Existing Tariff Rates by up to 50% on $360 Billion of Chinese Imports – Sources
- U.S. Negotiators Also Offer to Cancel New China Tariffs Set to Take Effect on Dec. 15 – sources
- President Trump will Hold Meeting Thursday to Discuss China Trade – Sources
Moments before the WSJ report, Trump wrote in a Tweet: “Getting VERY close to a BIG DEAL with China. They want it and so do we!”