White House considers cutting China tariffs

The U.S. administration would look at lowering tariffs on imported Chinese goods pending talks with Beijing, a source familiar with the matter said, adding that any action would not be made unilaterally.

The source's comments followed a Wall Street Journal report that the White House is considering cutting its tariffs on Chinese imports in a bid to de-escalate tensions.

China tariffs could come down from their current level of 145% to between 50% and 65%, the paper said, citing a White House official.

The tariff levels outlined in the WSJ report would likely still be high enough to deter a significant chunk of trade between the world's two largest economies.

China has retaliated with 125% tariffs on U.S. imports, along with other measures.