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Trump decides to postpone increasing customs tariffs on Chinese products

US President also reported that Washington has made substantial progress in our trade talks with Beijing on important structural issues

US President Donald Trump EPA-EFE/ERIK S. LESSER

US President Donald Trump

© EPA-EFE/ERIK S. LESSER

WASHINGTON, February 25. /TASS/. US President Donald Trump said on Sunday that he had decided to postpone increasing customs tariffs on Chinese products due to productive American-Chinese negotiations to resolve bilateral trade disputes, he wrote on his Twitter page.

"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 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 wrote.

US Treasury Secretary Steven Mnuchin said earlier that the trade consultations between China and the United States that began in Washington on February 19 have been extended until Sunday.

At the beginning of December 2018, Trump and Xi Jinping at a meeting in Argentina agreed to take measures within three months aimed at concluding a trade agreement between the two countries. The US president said he agreed from January 1 not to raise tariffs from 10% to 25% for Chinese products totaling $200 bln, as he had planned earlier.

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