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The Finance Base
China tariffs

Trump Floated Lowering Chinese Tariffs in April 2025. What Changed Since?

Trump’s April 2025 tariff comment was a proposal, not a confirmed rate change. Later agreements and 2026 product lists had different scopes.

By TheFinanceBase Team 3 min read

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In April 2025, President Donald Trump said he was considering substantially lowering tariffs on Chinese imports. That was a possibility he floated, not a finalized tariff change, and the report did not specify a new rate. Since then, the two countries have reported a separate 2025 tariff agreement and, in September 2026, reciprocal lists offering more favorable treatment to selected goods. Those later measures are distinct from the April announcement and do not amount to a blanket removal of tariffs on Chinese imports.

What Trump said about lowering tariffs on China

A Forbes Breaking News video listing published April 23, 2025, said Trump had suggested the previous Tuesday that he was considering “substantially” lowering tariffs on Chinese imports. The listing described a proposal under consideration; it did not establish that a change had been finalized or provide a specific rate. The page did not provide a transcript, so the full wording and setting of the remarks are not confirmed here. Forbes Breaking News video listing

The phrase “latest major tariff reversal since Liberation Day” belongs to that April 2025 news framing. It should not be read as a description of the latest U.S.-China tariff development today.

How the later developments differ

Date and development What was reported Scope and limits
April 2025: Trump’s proposal Trump was considering substantially lowering tariffs on Chinese imports. A floated possibility; the listing gave no rate and did not report a finalized change. Forbes Breaking News, April 23, 2025.
October 29, 2025: reported deal with Xi Trump said an agreement would reduce the stated tariff rate on Chinese imports from 57% to 47%; the fentanyl-related tariff component would fall from 20% to 10%. These are rates in Reuters’ account of the agreement at that time, not rates established as in force in October 2026. Reuters report republished by MarketScreener.
September 2026: reciprocal lists The United States and China agreed on recommendations for more favorable tariff treatment for about $30 billion of non-sensitive goods in each direction. AP later reported reciprocal lists covering about $30 billion of goods each. Relief applied to listed products, not all imports from China. AP reported the U.S. list covered 77 categories of Chinese goods and the Chinese list contained 1,619 items of U.S. goods. Reuters, September 26, 2026; Associated Press, September 28, 2026.

What the September 2026 tariff lists cover

Selected goods, not every import

The September 2026 arrangement focused on “nonsensitive goods,” according to U.S. Trade Representative Jamieson Greer, as quoted by AP. Examples on the U.S. list of Chinese goods included fireworks, tableware, dolls and puzzles, glass and wooden Christmas ornaments, and soccer balls. Axios also listed small appliances, toys, holiday decorations, and children’s car seats among U.S. imports included in the arrangement. AP’s report on the lists; Axios, September 26, 2026.

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Strategic products were not included

AP said chips, electric vehicles, and batteries were not covered by the lists it described. The list-based relief is therefore narrower than a general reduction in tariffs on Chinese imports.

Most-favored-nation treatment on the Chinese list

China’s commerce ministry, as reported by AP, said more than 90% of products on China’s list of U.S. goods would be subject to most-favored-nation tariff rates. For those listed products, country-specific tariffs would effectively be eliminated. That statement applies to products on the list, not to all U.S. goods or all trade between the countries. Associated Press, September 28, 2026.

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What this means for consumers and import prices

A product appearing in a tariff list does not, by itself, establish what a shopper will pay. The reporting describes trade-policy treatment for specified goods; it does not establish a price change at retail or recommend buying any particular product. The reported examples identify categories affected by the arrangement, not consumer bargains.

Nor do the reported figures form a simple, product-by-product tariff timeline. The 2025 rates concern a broad stated rate and a fentanyl-related component in Reuters’ account of an agreement; the 2026 arrangement concerns tariff treatment for specified lists. The sources do not establish a single rate applicable to every Chinese import in October 2026.

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How to read the April headline now

  • April 2025: Trump floated a substantial reduction; the listing did not report a completed policy change or exact rate.
  • October 2025: Reuters reported a separate agreement with stated rates moving from 57% to 47%, including a fentanyl-related component dropping from 20% to 10%.
  • September 2026: the countries reported reciprocal lists for selected non-sensitive goods, with strategic categories such as chips, electric vehicles, and batteries excluded from the lists AP described.

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