China says it welcomes delay on US tariff increase

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China says it welcomes delay on US tariff increase

China said on March 2 that it welcomed the release of language from the United State Trade Representative’s office (USTR) delaying a scheduled hike in US tariffs on $200 billion worth of Chinese goods.

In a statement posted on the website of the Ministry of Commerce, citing an unidentified official at China’s State Council Tariff Commission, China said that it was aware of the USTR’s announcement to maintain tariffs at 10 percent until further notice, and welcomed the step.

China says it welcomes delay on US tariff increase

The USTR released language to delay a scheduled hike in tariffs on Chinese goods from 10 percent to 25 percent on Friday, ahead of the publication of a notice next Tuesday.

President Donald Trump had announced the delay on Sunday as trade talks between the two sides had made progress.

source: moneycontrol