Donald Trump said the US would delay an increase in tariffs on $200bn in imports of Chinese goods set for March 1, citing progress in trade talks with Beijing, averting an imminent escalation in tensions between the world’s two largest economies.
Mr Trump tweeted that there had been “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.”
“I will be delaying the US increase in tariffs now scheduled for March 1,” he added.
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