The White House is considering a significant reduction in tariffs on Chinese goods to ease trade tensions

The Wall Street Journal reports that the U.S. government is considering a substantial reduction in tariffs on Chinese goods as part of efforts to alleviate ongoing trade conflicts.

A senior White House official revealed that tariffs on imported goods from China could be reduced to between 50% and 65%.

Market Reaction

This news has driven a bullish trend on Wall Street. As of the time of writing, the S&P 500 index is up nearly 3%, and the Nasdaq Composite Index is up 3.5%. Meanwhile, the U.S. Dollar Index (DXY) has recovered from its intraday low but is still down 0.4%, at 99.25.

Bitcoin Unaffected

Despite the positive stock market reaction, Bitcoin has remained unaffected, trading steadily at $93,000.

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