President Donald Trump said he plans to be “very nice” to China in any trade talks and that tariffs will drop if the two countries can reach a deal, a sign he may be backing down from his tough stance on Beijing amid market volatility.

President Trump vowed his administration will reach a "fair deal" with China on trade as he floats substantially reducing tariffs on Beijing.

US President Donald Trump has signaled a major U-turn on his trade war with China, saying the high tariffs on Chinese goods will “come down substantially, but it won’t be zero.”

Most legal scholars agree that Trump can’t fire Powell from the Fed’s board of governors, and there is no legal precedent for doing so. However, there is less agreement over whether a president can remove him as chair.

A worldwide rally is coming back around to Wall Street following updates from President Donald Trump about his plans for the Federal Reserve and his trade war that investors found encouraging. The S&P 500 was 2.

Stocks opened higher in early trading Wednesday. The surge comes after Donald Trump backed off threats to fire the chairman of the Federal Reserve and showed a willingness to lower tariffs on China. Stocks continued to rally early Wednesday after Donald Trump backed off of threats to remove the chairman of the Federal Reserve and signals that tariffs on Chinese imports could be lowered in the weeks to come.