Phoenix TV is out with the headline, citing a source familiar with the matter. This is also being aired across Twitter/X now but there’s yet to be a more credible source echoing the headline yet. Just be wary of that in case. But if true, that’s a significant reduction as there was some expectation that tariffs will be reduced to around 50-60% – which is still a relative disruption. So if the tariff levels are to be below that, it will be a much welcome stance in facilitating negotiations between the two sides.
This article was written by Justin Low at www.forexlive.com.
