Trump delays tariff hikes on Chinese goods ahead of talks

Daniel Fowler
September 12, 2019

At China's request, President Trump said Wednesday that the increase in tariffs on $250 billion in Chinese exports will be moved from October 1 to October 15.

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

The president called the postponement a "gesture of good will" in his tweet.

China said it would exclude 16 categories of products from retaliatory tariffs beginning next week ahead of talks to resolve the U.S. China trade war that has proven a drag on both countries' economies.

The nations are scheduled to hold two rounds of face-to-face negotiations in Washington in coming weeks with the first this month and the second in early October with a visit from He.

In total, Trump has imposed or announced penalties on about $550 billion of Chinese products, or nearly everything the US buys from the world's No. 2 economy.

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They include anti-cancer drugs and animal feed.

The Trump administration at the first of September imposed 15 percent tariffs on $115 billion worth of Chinese goods and will launch another round of penalties on December 15.

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Mr Trump's tariffs policy aims to encourage consumers to buy American by making imported goods more expensive.

"I deal with them and I know them and I like them", he said.

Deputy trade negotiators are due to meet in Washington in mid-September, with minister-level talks to follow in October.

The report also found China's ongoing economic slowdown - which predates the trade war - remains the top overall concern of U.S. companies.

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.

Both sides imposed fresh tit-for-tat tariffs on Sept 1.

Trump has offered billions in aid to farms badly damaged in the trade war.

The U.S. recently imposed 15 percent tariffs on about $112 billion of Chinese imports.

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