President Donald Trump revealed on Sunday that he would delay the implementation of the planned tariff hikes on hundreds of goods imported from China, citing “substantial progress” in high-level trade talks between the two nations, Fox News informed.
Trump also sent a tweet saying he would schedule a summit in order to meet with Chinese President Xi Jinping in Mar-a-Lago in Florida to complete the deal as both sides make additional progress.
“A very good weekend for the U.S. & China!” Trump wrote at the conclusion of the two-part Twitter message.
“We’re doing very well with China,” Trump told an assortment of governors at the White House for a black-tie event Sunday evening. “If all works well, we’re going to have some very big news over the next week or two, and it’s really been terrific. We’ve put ourselves into a position of strength for the first time in about 35 years or probably a lot more than that, but China’s been terrific. We want to make a deal that’s great for both countries and that’s really what we’re going to be doing.”
First, the President announced that he would increase the tariffs from 10 to 25 percent, if the U.S. and China did not reach an agreement by March 2. Negotiators held talks for two days in Washington and agreed to proceed with the talks during the weekend.
“We’re making a lot of progress,” Trump told reporters at the White House on Friday. “I think there’s a very good chance that a deal can be made.”
Trump’s administration stated that Beijing is using predatory tactics such as cyber-theft and unfair use of government subsidies and regulations, in a drive to make Chinese companies world leaders in such advanced industries.
The administration also mentioned that China failed several times to keep its commitments to open its markets and to treat foreign companies more fairly.
Be the first to comment