Voice of America
12 Sep 2019, 11:35 GMT+10
President Donald Trump is postponing tariffs on $250 billion in Chinese goods as a "gesture of good will."
Trump made the announcement in a late Wednesday tweet, saying Chinese Vice Premier Liu He asked for the delay in time for the People's Republic of China's 70th anniversary Oct. 1.
The increase in tariffs from 25% to 30% was supposed to take effect on that date. They are now set for Oct. 15. There has been no response so far from Beijing.
Trump's announcement came after China said earlier Wednesday it is exempting a handful of U.S. products from the next round of sanctions set to begin Sept. 17. They include shrimp, a cancer-fighting machine, industrial grease and assorted chemicals.
Midlevel negotiators plan to meet later this month to prepare for the first high-level trade talks between the United States and China since July.
The talks are set to open next month in Washington.
Both sides are hoping to make a trade deal that can finally end the trade war between the United States and China.
The series of tariffs on a large number of products the U.S. and China buy from each other has rattled investors and made consumers uneasy with the outlook of higher prices.
Trump has long accused China of intellectual property theft and manipulating its currency to make its goods cheaper than American products on the world market.
China says U.S. trade policies are aimed at trying to stifle its ability to compete.
Get a daily dose of Hong Kong Herald news through our daily email, its complimentary and keeps you fully up to date with world and business news as well.
Publish news of your business, community or sports group, personnel appointments, major event and more by submitting a news release to Hong Kong Herald.
More InformationAMSTERDAM, Netherlands: Some 32 percent of global semiconductor production could face climate change-related copper supply disruptions...
RIO DE JANEIRO, Brazil: At a two-day summit over the weekend, the BRICS bloc of emerging economies issued a joint declaration condemning...
DHARAMSHALA, India: The Dalai Lama turned 90 on July 6, celebrated by thousands of followers in the Himalayan town of Dharamshala,...
PARIS, France: French military and intelligence officials have accused China of orchestrating a covert campaign to damage the reputation...
CULVER CITY, California: TikTok is preparing to roll out a separate version of its app for U.S. users, as efforts to secure a sale...
HONG KONG: China has fired back at the European Union in an escalating trade dispute by imposing new restrictions on medical device...
WASHINGTON, D.C.: A federal rule designed to make it easier for Americans to cancel subscriptions has been blocked by a U.S. appeals...
BASTROP, Texas: In a surprising turn at Elon Musk's X platform, CEO Linda Yaccarino announced she is stepping down, just months after...
NEW YORK CITY, New York: Former British prime minister Rishi Sunak will return to Goldman Sachs in an advisory role, the Wall Street...
LONDON, U.K.: Physically backed gold exchange-traded funds recorded their most significant semi-annual inflow since the first half...
AMSTERDAM, Netherlands: Some 32 percent of global semiconductor production could face climate change-related copper supply disruptions...
NEW YORK, New York - U.S. stocks rebounded Tuesday with all the major indices gaining ground. Markets in the UK, Europe and Canada...