US Halts Planned China Tariffs

The U.S. White House has suspended plans to increase tariffs on an estimated US$200 billion of Chinese exports as the first sign that trade tensions between the two countries may be easing.
 
“In accordance with the president’s direction, the Office of the United States Trade Representative will publish a notice in the Federal Register this week to suspend the scheduled tariff increase until further notice,” the Office of the U.S. Trade Representative said.
 
Negotiations are still ongoing between President Trump and Chinese leader Xi Jinping, but the latest respite may indicate a resolution in the works as the two leaders continue talks.
 
The possibility of renewed trading between the two countries has been welcomed by global markets and opens potential for increased breakbulk activity by international players in China.
 
Photo: Trump and Xi Jinping. Credit: Wikimedia