Tuesday, 17 September, 2019

Trump delays tariff hikes on Chinese goods ahead of talks

China to exempt 16 US products from tariffs ahead of trade talks US-China Trade War: Beijing Exempts 16 Items From Retaliatory Tariffs Ahead Of Talks
Russell Knight | 12 September, 2019, 14:31

United States president Donald Trump has agreed to a two-week delay in a planned increase in tariffs on some Chinese imports.

Hours earlier, President Trump announced on Twitter that he chose to delay - for two weeks - another round of tariffs increases on Chinese imports.

He said the delay had been requested by China, and also follows a move by Beijing to scrap some United States tariffs.

Trump's announcement came after China said earlier Wednesday it is exempting a handful of US products from the next round of sanctions set to begin September 17.

But in the statement, the commission said it was also considering further exemptions.

Beijing and Washington have been embroiled in a year-long trade war that has seen the two sides slap punitive tariffs on hundreds of billions of dollars in two-way trade.

Deputy trade negotiators are due to meet in Washington in mid-September, with minister-level talks to follow in October.

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China to exempt 16 United States products from tariffs ahead of trade talks
Over the past year, the world's two largest economies have imposed tariffs on billions of dollars worth of one another's goods. China has imposed several rounds of tariffs on USA imports in the ongoing tit-for-tat dispute between the two countries.

Analysts say that with its duties on soybeans and US-made cars, China is taking aim at a key political support base of Donald Trump, mainly the factories and farms across the Midwest and South at a time of receding momentum in the world's top economy.

The trade war between the USA and China is showing signs of easing.

"These adjustments signal that China is more willing to make progress in the October trade talks, likely toward striking a "narrow" agreement that involves China buying more USA goods in exchange for the U.S. suspending further tariff hikes", Barclays analysts said in a research note.

Trump escalated the U.S.

Reducing America's soaring trade deficit with China has always been a principal aim in Trump's trade battle with Beijing, which he also accuses of stealing American technology and unfairly intervening in markets.

Both the countries slapped additional tariffs on each other's export goods which also resulted in global trade and economic slowdown.

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