WSJ report: Tariffs on China could drop by more than half

A new WSJ report claims tariffs on China could be cut by more than half.

Transcript

00:00Markets reacted kindly to the Wall Street Journal's report that President Trump is considering scaling back tariffs on China.

00:06The Dow, S&P, and Nasdaq all finished in the green on April 23rd, just a day after the Journal's story about a possible reduction.

00:13As it stands, the Trump administration has imposed 145% tariffs on China.

00:18But according to the report, one White House official says that number could be cut by more than half.

00:24Trump says the U.S. will have a fair deal with China and that the U.S. is actively engaging with Chinese officials.

00:29However, despite the Journal's report and the market optimism, the administration said not so fast.

00:35A White House spokesman said, President Trump has been clear.

00:38China needs to make a deal with the United States of America.

00:40When decisions on tariffs are made, they will come directly from the president.

00:43Anything else is just pure speculation.

00:46That'll do it for your daily briefing.

00:47From New York City, I'm Kelsey Barbario with The Street.