News

Trump delays additional Chinese tariffs after “productive” trade talks

President Trump has said he will not increase tariffs on Chinese goods March 1^st after all.  Trump tweeted late Sunday afternoon that the talks with Chinese trade officials have been productive, and he will delay the implementation of 25% tariffs on 250-billion dollars’ worth of products now under a 10% tariff.  He did not set a new deadline.

Trump also Tweeted he will be planning for a summit with Chinese President Xi at his Florida Mar-a-Lago resort to conclude an agreement in late March, assuming both sides make additional progress. The President said it was a very good weekend for U.S. and China.

On Friday, China committed to buying an additional 10-million tons of U.S. soybeans, which is a positive step for U.S. farmers but nowhere near the more than 50-million tons bought in the 2016-2017 marketing year.  CNBC reports China will buy up to 1.2 trillion in U.S. goods. The Chinese delegation spent most of last week in Washington and extended their visit through the weekend to continue trade negotiations.