Trump delays 25% tariff increase on Chinese goods
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The deadline for the planned tariff increases on Chinese goods has been postponed following what has been described as substantial progress’ during trade talks between US and Chinese officials.
President Donald Trump tweeted at the weekend that he will be delaying the tax rises – scheduled to be implemented on Friday (March 1st) as a result of the very productive talks. He wrote: “Assuming both sides make additional progress, we will be planning a summit for President Xi and myself to conclude an agreement. A very good weekend for US & China!”
The Trump administration had planned to raise tariffs to 25% from 10% on the $200 billion worth of Chinese imports into the US if an agreement could not be reached by Friday.
Included in the tariffs are backpacks and sports bags. Another round of $267 billion in tariffs that was expected to include apparel and footwear was also put on hold to support further negotiations.