Trump tariffs live updates: China eases tariffs on select US goods as Trump says Beijing will 'eat’ the costs

On Wednesday, it was reported that China had quietly compiled a list of US-made goods exempt from its 125% tariffs, aiming to ease trade tensions without public concessions. Companies, particularly those reliant on US technologies — such as pharmaceuticals and chipmakers — are being discreetly informed about these exemptions, Reuters reported.

The list appears to be expanding: For instance, China recently waived tariffs on US ethane imports. This approach allows Beijing to maintain a firm public stance while offering behind-the-scenes relief. Reports emerged last week that China quietly rolled back tariffs on some US semiconductor products, easing pressure on its tech sector, along with certain US pharmaceuticals.

Meanwhile, President Trump defended the 145% tariffs on Chinese imports, saying China "deserves it" and would likely "eat" the costs to shield US consumers. He dismissed inflation concerns, even as companies like Temu and Shein visibly pass costs on to shoppers.

His comments contrast with quieter moves inside the administration to consider phased tariff reductions and revive trade talks with Beijing — though no formal negotiations have begun.

But with 145% tariffs on China now in place for several weeks, cargo shipments have dropped dramatically, with estimates suggesting a 60% decline, per Bloomberg. Experts are warning of coming supply shortages and layoffs in sectors like trucking, logistics, and retail.