The White House is reportedly considering slashing tariffs on Chinese imports from a baseline rate of 145% to 50%-65%, a senior White House official told the Wall Street Journal. The administration is also considering a "tiered approach,

The Trump administration would look at lowering tariffs on imported Chinese goods pending talks with Beijing, a source familiar with the matter said on Wednesday, adding that any action would be in conjunction with negotiations and not made unilaterally.

Levies could be cut by more than half in some cases although President Trump hasn’t yet made a final decision.