AsianFin -- The Trump administration is reportedly weighing a sharp reduction in tariffs on Chinese imports, with discussions centering around lowering duties from the current average of 145% to between 50% and 65%.

The potential move is seen as an effort to ease mounting trade tensions between Washington and Beijing.

However, Chinese officials have pushed back on the speculation, denying that formal trade talks are taking place and dismissing related reports as inaccurate. (Source: Reuters)

The prolonged trade dispute has raised alarms among U.S. businesses, which cite escalating costs and the risk of renewed product shortages reminiscent of pandemic-era disruptions. Major retailers have warned that without a breakthrough in negotiations, American consumers could soon face steeper prices and dwindling inventory on store shelves.