Trump Postponing Tariffs on China as a ‘Good Will’ Gesture
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.
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