The Trump administration would look at lowering tariffs on imported Chinese goods pending talks with Beijing, a source familiar with the matter said on Wednesday, adding that any action would be in conjunction with negotiations and not made unilaterally.

Levies could be cut by more than half in some cases although President Trump hasn’t yet made a final decision.

President Trump, stung by a mounting backlash to his historic tariff plans, signaled on Wednesday that he is aiming for an end to the most intense period of global trade conflict in several decades.