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WorldTrump delays tariff hikes by two weeks in 'good will' gesture to China

02:50  12 september  2019
02:50  12 september  2019 Source:   cnbc.com

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President Trump tweeted he will delay increasing tariffs on 0 billion worth of Chinese goods from Oct. Trump said the postponement came "at the request of the Vice Premier of China , Liu He, and due to the fact that the People's Republic of China will be celebrating their 70th Anniversary."

President Donald Trump on Wednesday tweeted that he will be delaying the increased tariffs on 0 billion in Chinese goods to Oct. Trump said the postponement came “at the request of the Vice Premier of China , Liu He, and due to the fact that the People’s Republic of China will be celebrating

President Donald Trump on Tuesday tweeted that he will be delaying $250 billion in tariffs on China to October 15 from Oct 1 as a “gesture of good will” to China.

Trump delays tariff hikes by two weeks in 'good will' gesture to China© 2019 Getty Images OAKLAND, CALIFORNIA - SEPTEMBER 03: Shipping containers sit in a shipping terminal at the Port of Oakland on September 03, 2019 in Oakland, California. The Dow Jones Industrial Average fell nearly 300 points on Tuesday as the United States imposed 15% tariffs on some Chinese goods this past Sunday and China also imposed new charges on products from the United States. (Photo by Justin Sullivan/Getty Images)

Trump said the postponement came “at the request of the Vice Premier of China, Liu He, and due to the fact that the People’s Republic of China will be celebrating their 70th Anniversary.”

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US President Donald Trump will delay a planned tariff hike on 0bn (£202.8bn) of Chinese goods as a " gesture of good will ". 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

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The tariffs were set to increase to 30% from 25% on the goods.

U.S. stock futures jumped more than 0.5% percent after news of the delay.

This is breaking news. Please check back for updates.

Reuters contributed to this report.

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