US President Donald Trump postpones tariff hike on Chinese imports
Washington, Feb 25 (IBNS): In a major announcement, US President Donald Trump on Monday said he was "delaying" raising tariffs on hundreds of Chinese import products, a hike that was scheduled for Mar 1, after progress was achieved in the 'trade talks' with the Asian giant.
Trump tweeted: "I am pleased to report that the U.S. has made 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. As a result of these very......productive talks, 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!."
I am pleased to report that the U.S. has made 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. As a result of these very......
— Donald J. Trump (@realDonaldTrump) February 24, 2019
Trump even announced that he was planning a summit meeting with Chinese top leader Xi Jinping at his Mar-a-Lago resort in Florida.
....productive talks, 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!
— Donald J. Trump (@realDonaldTrump) February 24, 2019
He said US and China witnessed a very 'good weekend'.
Trump had earlier warned that if no deal was reached then he would have increased tariffs on $200 million worth of Chinese exports from 10% to 25% on Mar 1.
Senior U.S. and Chinese officials have been holding a series of trade talks in Beijing and Washington since Trump and Xi declared a 90 day truce in their trade war in December so a deal can be worked out, reported Voice of America.
Trump made the announcement amid trade talks between US delegation headed by Foreign Trade Representative Robert Lighthizer and China, led by Vice Premier Liu He recently.
Image: Donald Trump Twitter page
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