US President Trump delays tariffs hike on Chinese imports citing ‘productive’ progress in trade talks

The United States President Donald Trump has on Sunday announced he would delay the hike of tariffs on the Chinese imports, the deadline which was scheduled to come into effect on March 1.

According to National Public Radio (NPR) news reports, Trump will hold off increasing tariffs on billions of dollars in Chinese imports, after he described “very productive” to trade talks held between Beijing and Washington this weekend.

Tariffs on Chinese imports were scheduled to take place next Saturday from 10 to 25 per cent. But, the US president agreed to postpone the hike hoping negotiation to yield comprehensive trade agreements.

In a tweet, Trump said that both the sides had made “substantial progress” in trade talks on crucial structural issues, also including intellectual property protection. He wrote: “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 …”

He continued tweeting: “….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!”

Trump has met with a Chinese delegation led by vice premier Liu He on February 23 in Washington, where Beijing agreed to import an additional 10 million metric tonnes of US soybeans.

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