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Trump to Delay Tariffs on China by Two Weeks

By Catherine Lucey 

WASHINGTON -- President Trump says the U.S. will delay by two weeks a planned increase of tariffs on some Chinese imports, an announcement that comes as Chinese and American officials plan to hold another round of talks aimed at taming a trade war.

Mr. Trump said on Twitter Wednesday that the U.S. will delay a tariff increase that was to go into effect on roughly $250 billion worth of goods on Oct. 1. He said the move comes "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."

The president added that this should be considered a "gesture of good will."

The planned tariff increases were to cover largely non-consumer items -- materials businesses use to produce goods -- with the levy going from 25% to 30%.

The announcement came as Chinese and American officials plan to hold trade talks in Washington in early October.

China this week made some tariff exemptions ahead of the talks.

 

(END) Dow Jones Newswires

September 11, 2019 20:07 ET (00:07 GMT)

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