President Donald Trump announced on Sunday that the United States is planning to delay additional Chinese tariffs that were scheduled to begin on March 1, as the world’s two largest economies continue to work towards a definitive end to a wide-ranging trade dispute.
In a series of posts on Twitter, Trump cited “substantial progress” in bilateral talks between the U.S. and China; however, the two sides did not sign an official agreement and the White House did not release details on any agreements.
President Trump advised that he hopes to sign a final deal, in person, during a meeting with President Xi Jinping of China, most likely in March at Mar-a-Lago, the President’s Palm Beach resort. The exact amount of time for the delay on the scheduled List 3 Section 301 tariff increases of $200 billion of Chinese exports from 10 percent to 25 percent has not yet been indicated.
More information about the Section 301 tariff increases can be found in our latest Section 301 tariffs update here.