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WorldTrump Delays China Tariff Increase as Trade Talks Approach

08:40  12 september  2019
08:40  12 september  2019 Source:   msn.com

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Trump to Move China Tariff Increase to Oct. President Donald Trump said he was postponing the imposition of 5% extra tariffs on Chinese goods by two weeks, a move that delays the next escalation of the trade war and brightens the backdrop for upcoming negotiations.

President Trump raised tariffs on 0 billion worth of Chinese imports to 25 percent from 10 percent on Friday morning. President Trump praised the effects of tariffs , on the same day as a key round of trade talks between United States and Chinese officials.

(Bloomberg) -- President Donald Trump said he was postponing the imposition of 5% extra tariffs on Chinese goods by two weeks, a move that delays the next escalation of the trade war and brightens the backdrop for upcoming negotiations.

Trump Delays China Tariff Increase as Trade Talks Approach© AP Photo/Evan Vucci) President Donald Trump speaks during a ceremony honoring the victims of the Sept. 11 terrorist attacks, Wednesday, Sept. 11, 2019, at the Pentagon. (AP Photo/Evan Vucci)

“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 on October 1st, we have agreed, as a gesture of good will, to move the increased Tariffs on 250 Billion Dollars worth of goods (25% to 30%), from October 1st to October 15th,” Trump wrote Wednesday on Twitter.

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China ’s top trade envoy, Liu He, met with President Trump on Friday afternoon where the two sides announced an interim agreement that will help WASHINGTON — President Trump said Friday that the United States had reached an interim deal with China that would forestall a tariff increase slated

President Trump said the United States would delay its next planned tariff hike on China by two weeks, potentially giving negotiators a window to avoid the increase . The delay announced by President Trump comes as trade talks between the United States and China have stagnated

S&P 500 futures climbed 0.5% and the offshore yuan strengthened 0.3% against the dollar. The yen fell.

Trump Delays China Tariff Increase as Trade Talks Approach© Bloomberg Vice Premier Liu He Leads Chinese Trade Delegation In Washington

Negotiators are due to meet in Washington in coming weeks to push forward talks to end the trade war, which is causing increasing economic damage as it stretches into its second year. There’s little sign that substantive progress is being made on the two countries’ differences, while Trump still has further tariff increases lined up.

“The negotiators have had a year to come to an agreement, and they remain structurally at odds on key issues,” said Andrew Polk, co-founder of research firm Trivium China in Beijing. “Another two-week reprieve doesn’t change those fundamentals.”

The Trade War Is Smart Geopolitics

The Trade War Is Smart Geopolitics The president’s China tariffs may inflict short-term pain on American consumers, but it’s a small price to pay to combat an existential threat to the U.S.

.productive talks , I will be delaying the U.S. increase in tariffs now scheduled for March 1 The US has repeatedly accused China of stealing trade secrets and of ‘unfairly’ subsidizing its economy Trump has threatened to extend the tariffs to an additional 7 billion on Chinese goods, unless a

In exchange, Trump will not move forward with another round of tariff increases against roughly 0 billion in Chinese goods that had been set to “We are very close to ending the trade war,” Trump told reporters after the meeting with Liu, who led a delegation to Washington for trade talks this week.

On Wednesday, China announced a range of U.S. goods to be exempted from 25% extra tariffs enacted last year. While that may create some good will in Washington, China is keeping the pressure on U.S. agricultural exports like soybeans produced in key Trump-supporting states.

An editorial Wednesday in the Communist Party-controlled Global Times newspaper said the exemptions were a goodwill gesture that would benefit some Chinese and U.S. companies. The paper’s editor tweeted that he saw Trump’s decision to postpone extra tariffs as creating “good vibes” for the early-October talks.

“Trump’s goodwill gesture suggests that the trade war is starting to bite and the U.S. may be more eager to close a deal,” said Chua Hak Bin, an economist at Maybank Kim Eng Research Pte. in Singapore. “The clock is ticking and Trump’s approval ratings are sliding, with manufacturing now in recession.”

Trump advisers consider interim China deal to delay tariffs

Trump advisers consider interim China deal to delay tariffs Trump administration officials have discussed offering a limited trade agreement to China that would delay and even roll back some U.S. tariffs for the first time in exchange for Chinese commitments on intellectual property and agricultural purchases, according to five people familiar with the matter. Some of President Donald Trump’s top trade advisers in recent days have discussed the plan in preparation for two rounds of face-to-face negotiations with Chinese officials in Washington, due to take place in coming weeks, the people said. The discussions are preliminary and Trump has yet to sign off on it.

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 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

Mr. Trump has imposed tariffs on 0 billion of Chinese goods and plans to tax nearly all imports from China by the end of the year. China has recently allowed its companies to resume purchases of some American farm products after Mr. Trump agreed to delay increasing tariffs on another batch

Trump escalated the U.S.-China trade war in August when he announced an increase in the levy on $250 billion of Chinese goods to 30%, from 25%, starting Oct. 1. Further increases are planned for December.

The delay “shows Trump doesn’t want to increase tariffs before the trade talks in early October, and it creates good conditions,” said Tommy Xie, an economist at Oversea-Chinese Banking Corp. in Singapore. “It adds to the hope that there’ll be good news from the October meeting, and markets will wait and see.”

(Adds economists’ comments and Global Times editorial.)

--With assistance from Adam Haigh and Kevin Hamlin.

To contact the reporters on this story: John Harney in Washington at jharney2@bloomberg.net;Yinan Zhao in Beijing at yzhao300@bloomberg.net

To contact the editors responsible for this story: Michael Shepard at mshepard7@bloomberg.net, Jeffrey Black, Michael S. Arnold

For more articles like this, please visit us at bloomberg.com

©2019 Bloomberg L.P.

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