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US, China Working To Delay December 15 Tariffs – Report

  US and Chinese officials are working on a deal to postpone a round of tariffs set to hit Chinese imports in five days, according … Continue reading US, China Working To Delay December 15 Tariffs – Report


This photo taken on August 7, 2018 shows workers unloading bags of chemicals at a port in Zhangjiagang in China’s eastern Jiangsu province. China’s trade surplus with the United States eased in July, when President Donald Trump imposed stiff tariffs on billions of dollars worth of Chinese goods in a showdown between the world’s two biggest economies. The figures on August 8 come as the two exchange threats of further measures, which have fuelled fears of a trade war many observers warn could hammer global business. Johannes EISELE / AFP
This photo taken on August 7, 2018 shows workers unloading bags of chemicals at a port in Zhangjiagang in China’s eastern Jiangsu province.  Johannes EISELE / AFP

 

US and Chinese officials are working on a deal to postpone a round of tariffs set to hit Chinese imports in five days, according to a media report on Tuesday.

Delaying the new duties, which cover about $160 billion in imports, including consumer favorites like mobile phones, could help reassure markets the two sides are making progress towards ending their trade war.

Officials on both sides say they now expect to continue talking past December 15, when the tariffs are due to kick in, according to The Wall Street Journal.

The report helped move Wall Street futures into positive territory.

US officials have reiterated that any final decision by the American camp belongs to President Donald Trump.

For two months, the two sides have struggled to finalize a partial deal that Trump announced in October.

Should the December 15 tariffs take effect, virtually all the merchandise the United States imports annually from China will be covered by punitive tariffs.

AFP