Air India Ltd is looking to take Boeing Co planes rejected by Chinese carriers, people familiar with the matter said, joining the ranks of Asian airlines vying to benefit from the trade war between Washington and Beijing.

Donald Trump is considering backing down in his trade war with China as the US economy suffers. The president could cut tariffs on imports to between 50pc and 65pc, according to The Wall Street Journal,

Comments from the president and Treasury Secretary Scott Bessent raised expectations that the economic rivals could find a way to reduce the intensity of the trade war.

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.

U.S. stocks extended gains on Wednesday after a Wall Street Journal report said the White House was considering slashing China tariffs to de-escalate the trade war between the two countries. A senior White House official said China tariffs were likely to come down to between roughly 50% to 65%,

The China tariffs are likely to come down to between 50% and 65%, the report added citing a White House official.