Wall Street Rally Wavers Amid Trump Tariff Uncertainty

Wall Street experienced volatility as President Donald Trump signaled both a willingness to substantially reduce tariffs on Chinese imports and a continued commitment to protectionist trade measures, contributing to sharp but uneven gains in U.S. stock markets. Several reports indicated that the administration is considering lowering tariffs from 145% to a range between 50% and 65%, with a possible tiered approach depending on national security concerns. Despite these potential reductions, officials clarified that no unilateral offers have been made to Beijing and that any changes would require reciprocal action from China. Market optimism was further buoyed by Trump’s assurance that he does not intend to remove Federal Reserve Chair Jerome Powell, alleviating some concerns about central bank independence. Technology stocks, in particular, rallied on hopes of trade de-escalation, and broader indexes posted significant daily gains, though analysts cautioned that policy inconsistency and recession risks remain. The overall sentiment in global markets remains jittery, reflecting ongoing uncertainty over both U.S.-China trade negotiations and domestic economic policy.