Trump to delay further tariffs on Chinese goods
President Donald Trump has announced that the US will delay imposing further trade tariffs on Chinese goods.
The rise in import duties on Chinese goods from 10% to 25% was due to come into effect on March 1st.
Mr. trump said both sides have made substantial progress in trade talks, which has sent chinese stocks up nearly 5%.
He added that he was planning a summit with Chinese president, Xi Jinping to cement the trade deal if more progress was made.
Mr. Trump’s decision to delay tariff increase could be seen as a sign that the two sides were making progress on setting their damaging trade war.