US President Donald Trump delayed the imposition of further tariffs on $200 billion worth of Chinese goods scheduled on March 1. The reason for this was the achievement of a compromise in the recent negotiations with Beijing.
“The US has made substantial progress in our trade talks with China,” the American leader noted. As a result of these very productive talks, the increased tariffs, set to be imposed on March 1, 2019, will be postponed. According to the US President, progress was made on important structural issues including intellectual property protection, technology transfer, agriculture, services, currency, etc.
The leaders of China and the United States called a truce on the sidelines of the G20 summit that was held at the beginning of December. Chinese leader Xi Jinping promised to buy a substantial amount of agricultural and other products from the US. Mr Trump, in turn, agreed not to boost tariffs on Chinese goods worth $200 billion starting from January 1, 2019, if the parties will be able to reach a compromise on a number of issues.
