Trump Plans Tariff Reductions Amid Economic Struggles

President Donald Trump has announced plans to significantly reduce the 145 percent tariffs he imposed on Chinese imports, marking a major reversal in his approach to the US-China trade war. The move follows mounting criticism from economists and financial markets, which had suffered amid escalating tariffs and a near-embargo on trade between the two countries. Trump acknowledged the current tariff rate is 'very high' and stated it would 'come down substantially,' but not return to zero. Stocks responded positively to the prospect of lower tariffs, while critics on social media accused Trump of backtracking under economic pressure. Treasury Secretary Scott Bessent emphasized a shift toward collaboration and mutual respect with trade partners, framing the tariff reduction as a means to rebalance rather than halt trade. The decision reflects a broader pragmatic adjustment in US economic policy as the harm to the American economy became increasingly clear.