President Trump has once again delayed the tariff increase on $200 billion of Chinese-origin goods to the U.S. due to “substantial progress” in trade talks. With a March 1 deadline, President Trump had planned to increase the tariffs from 10 to 25 percent.
The announcement came after months of efforts by negotiators for the United States and 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,” Trump wrote on Twitter. “As a result of these very productive talks, I will be delaying the U.S. increase in tariffs now scheduled for March 1.”
While a new date has not been set for the tariff increase to take effect, Trump plans to meet one-on-one with Chinese President Xi at Mar-a-Lago next month to finalize terms of the agreement.
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