On April 22, 2025, U.S. President Donald Trump said he would not fire Federal Reserve Chair Jerome Powell. He also indicated that the 145% tariffs on Chinese goods would be “substantially” reduced. These comments came amid global concern over rising trade tensions and brought relief to financial markets.

BulletsIn

• Trump confirms he won’t fire Fed Chair Jerome Powell.
• Signals major cut to 145% China tariffs imposed earlier this year.
• Says tariffs “very high” and will come down but not to zero.
• Recent tariffs linked to fentanyl concerns and unfair trade practices.
• China hit back with 125% counter-tariffs on U.S. goods.
• Treasury Secretary calls tariffs a “reciprocal trade embargo.”
• Markets rebound on hopes of easing U.S.-China trade tensions.
• U.S. aims for a deal, not a full decoupling from China.
• White House says trade talks “moving in the right direction.”
• China yet to confirm formal negotiations with U.S.