$TRUMP Trade Policy Fluctuations: Tariffs and Negotiations with China**

- **Softening Attitude?** Trump recently hinted at a "significant" reduction of tariffs on China, decreasing from the current 145% to a lower rate, which triggered a market rebound. However, Treasury Secretary Scott Baesen clarified that tariffs will not be unilaterally reduced, as China demands the complete removal of tariffs before negotiations.

- **Exemption from Auto Tariffs:** The government may exempt automotive manufacturers from punitive tariffs, but contradictory signals (such as threats regarding tariffs on Canadian automobiles) complicate the outlook.

- **Investigation into Truck Imports:** A new investigation into heavy truck imports suggests that additional tariffs may be forthcoming $TRUMP