Voice of America
12 Sep 2019, 11:35 GMT+10
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.
Midlevel negotiators plan to meet later this month to prepare for the first high-level trade talks between the United States and China since July.
The talks are set to open next month in Washington.
Both sides are hoping to make a trade deal that can finally end the trade war between the United States and China.
The series of tariffs on a large number of products the U.S. and China buy from each other has rattled investors and made consumers uneasy with the outlook of higher prices.
Trump has long accused China of intellectual property theft and manipulating its currency to make its goods cheaper than American products on the world market.
China says U.S. trade policies are aimed at trying to stifle its ability to compete.
Get a daily dose of Utah Independent news through our daily email, its complimentary and keeps you fully up to date with world and business news as well.
Publish news of your business, community or sports group, personnel appointments, major event and more by submitting a news release to Utah Independent.
More InformationLONDON, UK - Lawmakers in the United Kingdom have voted overwhelmingly to proscribe the direct-action group Palestine Action as a terrorist...
DHARAMSHALA, India: The Dalai Lama is set to address a significant three-day conference of Buddhist leaders this week, coinciding with...
WASHINGTON, D.C.: In a significant ruling last week, the U.S. Supreme Court upheld a Texas law requiring age verification for users...
ISTANBUL/PARIS/BRUSSELS: As searing temperatures blanket much of Europe, wildfires are erupting and evacuation orders are being issued...
VENICE, Italy: Over the weekend, hundreds of protesters marched through the narrow streets of Venice to voice their opposition to billionaire...
PARIS, France: France is taking stronger steps to reduce smoking. A new health rule announced on Saturday will soon ban smoking in...
LONDON/STOCKHOLM: The Persson family is ramping up its investment in the H&M fashion empire, fueling renewed speculation about a potential...
PARIS, France: L'Oréal is making a fresh play in the booming premium haircare segment with a new acquisition. The French beauty conglomerate...
MENLO PARK, California: Robinhood is giving European investors a new way to tap into America's most prominent tech names — without...
NEW YORK, New York - U.S. stocks diverged on Wednesday for the second day in a row. The Standard and Poor's 500 hit a new all-time...
NEW YORK CITY, New York: The U.S. dollar continues to lose ground, weighed down by growing concerns over Washington's fiscal outlook...
KABUL, Afghanistan: Afghanistan, long associated with war and instability, is quietly trying to rebrand itself as a destination for...