The United States has agreed to delay increasing tariffs on US$250 billion worth of Chinese imports from Oct. 1 to Oct. 15 “as a gesture of goodwill”, President Donald Trump said on Wednesday.
Trump said the postponement came “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,” Reuters reports.
The tariffs were set to increase to 30 percent from 25 percent on the goods.
Chinese trade deputies are expected to meet with their US counterparts in mid-September in Washington before minister-level meetings in early October in the US capital.
The delay could enable talks to take place before the tariffs kicked in, Reuters noted.
The US and China imposed fresh tariffs on each other on Sept. 3, ratcheting up a tit-for-tat tariff war that has unsettled financial markets and prompted worries of a global recession.
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