Tariff U-turn on China... US "New tariff rates will be announced in 2-3 weeks"

Trump continues to send conciliatory messages

WSJ "China tariffs may drop from 145% to 50%"

US President Donald Trump hinted at the possibility of reducing tariffs on Chinese imports within 2-3 weeks. There is a forecast that the 145% tariff rate imposed on China after the inauguration of the second Trump administration could be lowered to around 50%.

On the 23rd (local time), President Trump stated, "We will set (new) tariff rates in the next 2-3 weeks," adding that "China could be included." This follows his previous statement that "the additional 145% tariff on China is very high. The tariff rate will be significantly lowered after negotiations," and he even mentioned the timing of the reduction. When asked by reporters if direct negotiations with China were ongoing, President Trump replied, "Yes, we are doing it every day."

The Wall Street Journal (WSJ), citing a senior White House official, reported that "there is a high possibility that the tariff rate on China will be lowered to 50-65%." It also mentioned that there is a plan to apply about a 35% tariff on items unrelated to national security and at least a 100% high tariff on items important to the US's strategic interests.

There is an analysis that China has been consistent in its resistance, and President Trump, after unilaterally raising tariffs and facing backlash in the market, suddenly made a conciliatory gesture towards China.

However, White House spokeswoman Caroline Levitt said in a Fox News interview that "there will be no unilateral tariff reduction on China." However, the Chinese Ministry of Commerce refuted President Trump's statement that negotiations between the US and China are taking place, calling it "groundless" at a press conference on the 24th.

Reporter Dayeon Lim allopen@hankyung.com