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US postpones deadline to raise tariffs on Chinese goods

by ChemOrbis Editorial Team - content@chemorbis.com
  • 25/02/2019 (09:45)
The US will delay a planned increase in tariffs on Chinese goods that were scheduled to come into force on March 1, the US president Trump wrote in a tweet on February 25.

The President stated that the US made substantial progress on issues with China including intellectual property and technology transfer in the latest round of talks and also signaled a summit with the Chinese President Xi to conclude an agreement.

China and the US agreed to a cease-fire in December last year, with the US postponing plans to increase tariffs on the $200 billion of Chinese goods to 25% from the current 10%. The truce was given a 90-day time frame, meaning that the negotiations would wrap up around by the start of March.

However, the President did not provide information on when the summit will take place or how long the tariff extension is expected to last.
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