US economy

Trump says US to delay raising tariffs on Chinese imports


Donald Trump on Sunday announced the US would delay an increase in tariffs on imports of Chinese goods previously scheduled to take effect on March 1, citing progress in trade talks with Beijing.

Pointing to “substantial progress in our trade talks with China on important structural issues including intellectual property protection, technology transfer, agriculture, services, currency, and many other issues,” Mr Trump wrote in a statement on Twitter, “I will be delaying the U.S. increase in tariffs now scheduled for March 1.”

“Assuming both sides make additional progress, we will be planning a Summit for President Xi and myself, at Mar-a-Lago, to conclude an agreement. A very good weekend for U.S. & China!” he added.

Mr Trump did not provide any further details on a potential future deadline for the tariffs increase, which would raise the punitive tariff rate on $200bn of Chinese imports from 10 per cent to 25 per cent.

More as it develops.





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