The United States is detaining a scheduled increase of tariffs on more than $200 billion in Chinese exports after the “ substantial progress” made in the trade discussions, told by US President Donald Trump. The US President Donald Trump decided to detain a meeting with Chinese President Xi Jinping at his Florida estate Mar-A-Lago to sign a deal.
The US President posted in twitter, “ I am pleased to report that the U.S. has made substantial progress in our trade talks with China on important structural issues including intellectual property protection, technology transfer, agriculture, services, currency, and many other issues”.
He also added, “ As a result of these very productive talks, I will be delaying the U.S. increase in tariffs now scheduled for March 1. Assuming both sides make additional progress, we will be planning a Summit for President Xi and myself, at Mar-a-Lago, to conclude an agreement. A very good weekend for U.S. & China!”.
The US President already conveyed optimism about the discussions after the summit with the vice premier of China Liu He. The Discussions has been concluded on Sunday.
Chinese President also hit in a letter Liu delivered to Trump with a positive tone, claiming he expected the discussions would be organized in a “win-win” spirit which would lead to a mutually beneficial agreement.
The US President told in a deal on the currency manipulation will be added in the trade pact, but differently few particulars have been made public.
The seven-month long trade war has shaken the international markets and triggered stark alerts about the risk factors to the world economy.