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Trump Delays Hike for China Tariffs by 2 Weeks
President Donald Trump says the U.S. will suspend until Oct. 15 its plan to hike tariffs on some $250 billion worth of Chinese goods.
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President Donald Trump says the U.S. will suspend until Oct. 15 its plan to hike tariffs on some $250 billion worth of Chinese goods.
The increase, from the current 25% to 30%, was to take effect on Oct. 1. Trump says the delay is meant as a gesture of good will and in recognition of the 70th anniversary of the People’s Republic of China on that date.
Trump tweeted the policy shift shortly after China announced its own goodwill gesture: lifting a 25% tariff it imposed 13 months ago in response to the 25% levy the U.S. imposed on what then became an expanding list of Chinese goods.
The conciliatory moves by the two countries come as their trade envoys prepare to resume talks in Washington, D.C., next month to end the trade war.
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