President Trump has announced that he has delayed the imposition of more tariffs on China as a gesture of goodwill.
According to The Hill:
President Trump said Wednesday that the U.S. will delay an upcoming increase in tariffs on $250 billion worth of goods from China at the request of Beijing, calling it a “gesture of good will.”
Trump tweeted that he would push back tariffs set to go into effect on Oct. 1 to Oct. 15 at the request of Chinese Vice Premier Liu He because the People’s Republic of China will be celebrating its 70th anniversary on Oct. 1.
“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 on October 1st, we have agreed, as a gesture of good will, to move the increased Tariffs on 250 Billion Dollars worth of goods (25% to 30%), from October 1st to October 15th,” Trump wrote in a pair of tweets.
U.S. and Chinese officials, meanwhile, have agreed to meet to continue trade talks next month. Beijing earlier Wednesday said it would lift tariffs on some American-made goods, though the goods did not include agricultural products, like soybeans, sales of which have been severely impacted because of the trade war.
President Trump has also announced that China is likely to increase its purchases of United States agricultural products.