Don't Miss

Home / Business / Trump delays tariff hikes on Chinese goods ahead of talks

Trump delays tariff hikes on Chinese goods ahead of talks

Trump delays tariff hikes on Chinese goods ahead of talks

In a tweet, Mr Trump said a 5% increase to duties scheduled for 1 October will be postponed for two weeks.He said the delay had been requested by China, and also follows a move by Beijing to scrap some US tariffs, reports BBC.

It comes as the two sides prepare to hold fresh talks aimed at resolving their long-running trade dispute.

Last month, the US said it would increase the tariff rates on all Chinese goods, which included raising a 25% tax on $250bn of Chinese imports to 30%.

On Wednesday, Mr Trump said China’s Vice Premier Liu He had asked him to postpone the upcoming tariff increase from 1 October as the date coincided with the anniversary of the People’s Republic of China.

Earlier, China released a list of 16 US imports that will be exempted from tariffs including anti-cancer drugs and animal feed.

Significant US exports to China, like pork, soybeans and American-made cars, are among the goods that will still be hit by the hefty taxes.