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

- **Softening Attitude?** Trump recently hinted at "significantly" lowering tariffs on China, from the current 145% to a lower rate, which sparked a market rebound. However, Treasury Secretary Scott Bessent clarified that there would be no unilateral tariff reductions, as China demands the complete removal of tariffs before negotiations.

- **Exemption from Auto Tariffs:** The government may grant exemptions from punitive tariffs for auto manufacturers, but conflicting signals (such as threats regarding tariffs on Canadian cars) make the outlook unclear.

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