Trump Folds: Will Cancel New China Tariffs, Offers to Cut Existing Tariffs by 50% in Exchange for Pledges

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!”

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