Wall Street climbs on report US may pare back tariffs on China



Marley Jay | Sydney Morning Herald

US stocks climbed Thursday after the Wall Street Journal reported that US officials could reduce the new tariffs on Chinese imports as part of trade negotiations between the two countries. It was the latest in a series of potentially conflicting updates on the trade dispute.

Citing sources close to the discussions, the Journal said Treasury Secretary Steven Mnuchin and other officials are willing to lift some or all of the import taxes the US announced last year. They’re aiming to convince Chinese leaders to make deeper reforms. However, US Trade Representative Robert Lighthizer reportedly doesn’t support the idea, and the proposals haven’t been presented to President Donald Trump.


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