Trump Agrees to Two-Week Delay in China Tariff Increase

Mike Starkey offloads soybeans from his combine as he harvests his crops in Brownsburg Ind

On Wednesday, Trump wrote in a post on Twitter that the United States had agreed to delay increasing tariffs on $250 billion U.S. worth of Chinese imports from October 1 to October 15 "as a gesture of good will".

"Trump's goodwill gesture suggests that the trade war is starting to bite and the USA may be more eager to close a deal", said Chua Hak Bin, an economist at Maybank Kim Eng Research Pte.in Singapore. The disclosure came out shortly after the U.S. announced it will delay additional tariff hikes on Chinese goods.

Preliminary meetings are set to take place later this month in Washington before United States treasury secretary Steven Mnuchin and trade representative Robert Lighthizer meet China's vice premier Liu He in October.

"These actions seem created to get the China trade talks back on track", said Amanda DeBusk, a partner at the law firm Dechert LLP.

The mutual steps to ease trade tensions between the world's two largest economies could influence working-level discussions expected at mid-month. "I hope we can do something".

But Trump's trade advisers are not considering an interim trade deal with China that would further push out or roll back some USA tariffs, the CNBC network reported on Thursday, rebutting a Bloomberg report that a limited deal was under consideration.

Meghan Markle's clothing line for Smart Works has arrived
Meghan added: "When you buy any item in the Smart Set capsule collection , the same item will be given to a Smart Works client". The collection goes to help the Smart Works charity, which outfits women for job interviews.

While welcoming China's overtures, US Treasury Secretary Steven Mnuchin sought to temper optimism in markets that the gestures might lead to a trade deal. USA stocks, highly sensitive to the ups and downs of the negotiations, rose in early trading before giving up most of the gains by late morning. Neither side has specified a date for the meetings. Even European economies are shrinking, many of which are important trade partners for South Africa. Moody's Analytics estimates that Trump's tariff policy has already cost the US economy 300,000 jobs and could rise to 450,000 jobs later this year once the full effect of the additional tariffs kick in. "An exemption list of just 16 items will not change China's stance", ING's Greater China economist Iris Pang said.

In July alone, the United States exported about 3,000 containers, or nearly 61,000 tonnes of pork, as buyers stepped up purchases amid a huge shortfall in China - due to a massive outbreak of African swine fever that has driven prices to record levels. Trump tweeted early Thursday.

Washington and Beijing have placed tariffs on billions of dollars worth of goods during trade dispute, with more tariffs due to take effect in the coming months.

Significant US exports to China, like pork, soybeans and American-made cars, are among the goods that will still be hit by the hefty taxes.

Mr. Trump has imposed or announced penalties on about $550 billion of Chinese products, or nearly everything the United States buys from China.

Related News:

  • China’s lunar probe may land on the moon’s far side tonight

    China’s lunar probe may land on the moon’s far side tonight

    The probe, comprising a lander and a rover, landed at the preselected landing area on the far side of the moon at 10:26 a.m. But China got around this by launching a satellite last May that acts as a relay between the lander and Earth.
    Donald Trump vows to 'hit Taliban harder than ever' on 9/11 anniversary

    Donald Trump vows to 'hit Taliban harder than ever' on 9/11 anniversary

    He recounted how he called off the talks after the Taliban admitted carrying out a bombing in Kabul that killed Army Sgt. As many as 100,000 USA troops were in Afghanistan at the invasion's peak, and more than 2,400 have been killed.
    Israel denies claims it planted spying devices near the White House

    Israel denies claims it planted spying devices near the White House

    Krebs noted that use by foreign governments of ISMI-catchers in Washington "may threaten USA national and economic security". The U.S. and Israel are extremely close allies, and that relationship has grown closer since President Trump took office.
  • Three Australians detained in Iran

    Three Australians detained in Iran

    Australia's Department of Foreign Affairs and Trade said it was providing consular assistance to the families of all three. It is believed the woman has been sentenced to 10 years in jail, though her alleged offence is not yet known.
    Mystery Nintendo Switch exercise accessory is called Ring-Con, coming in October

    Mystery Nintendo Switch exercise accessory is called Ring-Con, coming in October

    In a seven-minute long video today, we're taken through a demo of Ring Fit Adventure and what kind of content players can expect. You'll also need to defend against incoming attacks by pushing the Fit-Con against your tummy and activating your core.
    Saudi, Russia call for better compliance with OPEC oil cuts

    Saudi, Russia call for better compliance with OPEC oil cuts

    Saudi Arabia and Russian Federation on Thursday called on OPEC members and its allies to better comply with oil production cuts. OPEC on Wednesday cut its forecast for growth in world oil demand in 2020 and indicated the market would be in surplus.
  • Trump administration to revoke water protection rule

    Trump administration to revoke water protection rule

    Glennon says that "whatever the rule is, it always gets challenged". "We will finalize all of our top priorities", Wheeler said . WOTUS was already on hold in IN, one of 27 states where federal courts had blocked it as an intrusion on state authority.
    Shawn Mendes and Camila Cabello show everyone how they make out

    Shawn Mendes and Camila Cabello show everyone how they make out

    Just before kissing passionately in the Insta video, Mendes said: "We just wanna show you how we really kiss". Well, people got way more than a glimpse, but it wasn't exactly what their fans were hoping for.
    Hong Kong tells U.S.  to stay out; students form protest chains

    Hong Kong tells U.S. to stay out; students form protest chains

    It said in a statement Monday that "foreign legislatures should not interfere in any form in the internal affairs" of Hong Kong. Trump has suggested that it's a matter for China to handle, though he also has said that no violence should be used.
  • Nobody seems to know if India’s Moon lander survived its crash landing

    Nobody seems to know if India’s Moon lander survived its crash landing

    The Lander, on the opposite hand, did no longer do a steady touchdown and subsequently the scientists misplaced contact with it. ISRO is still conducting investigations about what went wrong with the Vikram lander but is relieved to know where it is.
    Pre-debate Biden ad deflects criticism of Obama

    Pre-debate Biden ad deflects criticism of Obama

    The third Democratic presidential debate runs from 8 p.m.to 11 p.m. on Thursday, Sept. 12 at Texas Southern University in Houston. If they can't get any traction in this debate, or in October, their candidacies probably don't have much further to go.
    Roy axed as England seek redemption in final Ashes Test

    Roy axed as England seek redemption in final Ashes Test

    Ben Stokes will play as a specialist batsman because of a shoulder injury, which has prompted selectors to swing the axe on Roy. Australia will be looking to cap off the Ashes tour with a win after a successfully retaining the Ashes in Manchester.


Most liked

Terrence Howard of 'Empire' is done with acting
Henson and Terrence Howard detail how his void is impacting the series. "I'm done pretending", he said. I'm a lover of words, photography, books, travel, animals and The Ohio State Buckeyes.

Fire and Blood Targaryen Prequel Series in the Works at HBO
It draws inspiration from Martin's recent book "Fire & Blood", which tells the history of House Targaryen in the series' universe. We all bid farewell to Game of Thrones earlier this year and there were a lot of opinions on whether it was a fitting end.

Deputies: Florida teen tried to hire someone to murder her parents
Lake County Sheriff's Office Detective David Causey spoke to the friend on September 9, saying Hatcher asked two different people. This was just somebody, who for whatever reason, just didn't want her parents around", Jones told WFTV.

Johnson considering building bridge between Scotland and Northern Ireland
He said he hopes that as the threat from no-deal becomes more real in the United Kingdom , the "debate will become more honest". The risks appeared to include "munitions in the Irish Sea" from World War II, the documents said.

Antonio Brown Accused of Raping Former Trainer in Federal Lawsuit
Brown was approached by Taylor in 2017, according to Heitner, about making a $1.6 million investment in a business project. The sources also declined to speculate on knowledge the Raiders or Steelers might have had before letting Brown go.

Former Oregon State cornerback Terrell Roberts killed in Bay Area shooting
Investigators determined the shooting happened in the garage following a disturbance between Roberts and the suspect. The Roberts family told a San Francisco television station that Roberts had not been "mixed up in anything bad".

Jets’ Sam Darnold out with mono, could miss weeks
The Jets will go with veteran Trevor Siemian , who started 24 games for the Broncos during the 2016 and 2017 seasons. Bell performed admirably in his first-ever game as a Jet, compiling 92 scrimmage yards and one receiving touchdown.

BJ Habibie, who oversaw Indonesia’s transition to democracy, dies
Habibie, concurrently ex-research and technology minister, is survived by his two sons: Ilham Akbar and Thareq Kemal. But there are a couple of things that make Habibie an "unusual" president in the political history of Indonesia.

Google Earth Leads to Discovery of Man Missing Since 1997
The housing development where Moldt's remains were found was reportedly under construction at the time he went missing. A submerged vehicle, with the skeletal remains of William Earl Moldt, was found after being spotted on Google Earth.

Kim Clijsters: Tennis legend announces 2020 comeback
These include contemporary Serena Williams, as well as Victoria Azarenka. "I don't really feel like I want to prove something". Seven years after retiring from tennis a second time, Kim Clijsters is attempting another comeback at age 36 .

Quebec's religious symbols ban is Trudeau's campaign cross to bear
At the dissolution of Parliament, the Liberals hold 177 seats, the Conservatives 95, the NDP 39, the Bloc 10 and the Greens 2. Scheer said the focus on Willson shows the Liberals are "desperate to change the channel on their scandals and corruption".

Apple iPhone 11 upgrade: the good, the bad and the ugly
An Amazon Prime subscription, which includes streaming, is $10 a month, while Hulu goes for $6 a month with ads and $12 without. Apple's first 5G-enabled phone, however, won't be available until next year, Bloomberg News reported earlier.

New Saudi energy minister says country wants to enrich uranium
Until Prince Abdulaziz's appointment late on Saturday night, Saudi Arabia's oil ministry has been since 1960 headed by civilian technocrats.

Boris Johnson seeks cost estimates for a Scotland-Northern Ireland bridge
This represents a lead of 51% to 49% for unification when those who said they don't know and would not vote are excluded. Professor Dunlop suggested the cost of such a project would be somewhere in the region of £15 billion to £20 billion.

Hubble just detected water vapor around a distant exoplanet
Prof Giovanna Teneti, the lead scientist on the project, said the discovery made on the planet named K2-18B, was 'mind blowing'. As of now, the researchers have concluded that there is some quantity of water and likely hydrogen in the planet's atmosphere.