The Trump administration is considering slashing its steep tariffs on Chinese imports—in some cases by more than half—in a bid to de-escalate tensions. One senior White House official said the levies were likely to come down to between roughly 50% and 65%.

President Trump’s administration is reducing tariffs on small packages from China from 120 percent to 54 percent in light of the three-month trade truce with Beijing. The White House announced the

The White House backed off from the steepest levies, as the costs of an all-out trade war with China threatened global economic growth.