President Trump said 145% tariffs on Chinese imports will "come down substantially" as his administration expressed optimism about a trade deal.

Washington and Beijing may soon strike a trade deal. President Donald Trump said China's hefty tariff rate of 145% will also likely drop "substantially."

The White House is reportedly considering slashing tariffs on Chinese imports from a baseline rate of 145% to 50%-65%, a senior White House official told the Wall Street Journal. The administration is also considering a "tiered approach,