06 Mar – US confirms decision to delay tariff increases on China
The rate of additional duty on Chinese products will remain at 10% until further notice, the US Trade Representative (USTR) stated in a notice published on March 5 in the Federal Register, the daily journal of the US Federal government.
The USTR stated that it has postponed the date on which the rate of the additional duties will increase to 25% for Chinese products covered by the notice published on September 21, 2018. Under this previous notice, the rate of additional duty on Chinese goods with an annual trade value of approximately $200 billion was set to increase to 25%.
The USTR’s decision was in accordance with the direction of the US President Trump, who said in a tweet in late February that there had been substantial progress in the trade talks with China and that increase in tariffs would be delayed.
The US and Chinese leaders met on December 1, 2018, and agreed to hold negotiations on a range of issues, including tariffs and have engaged in additional rounds of negotiation since then.