The Trump administration is looking for an offramp from the trade war it started with China this month, calling its tariffs on Chinese goods unsustainable as major retailers warn the White House that U.

Stocks were holding onto sizable gains Wednesday as many investors cheered the possibility trade talks between the United States might at least start. At the same time, President Trump's announcement he wouldn't try to remove Federal Reserve Chairman Jerome Powell cheered the market,

President Donald Trump said final tariffs on goods from China would "not be anywhere near" the current rate of 145%, and would "come down substantially." During a press conference in the Oval Office on Tuesday,