US Delays Tariff Increase on Chinese Goods
February 25, 2019
US President Trump delayed his own deadline to increase tariffs on Chinese goods in a tweet on Sunday(Feb.24), said he would delay a Friday deadline to increase tariffs on $200 billion in Chinese imports, citing “substantial progress” during a week of trade talks in Washington between American and Chinese officials.
The extension will prevent the United States from increasing tariffs on $200 billion of Chinese exports to 25 percent from 10 percent on March 2. The delay, which Mr. Trump had dangled as a possibility in recent weeks, is likely to calm volatile financial markets and reassure business owners who depend on China both for components and as a market for finished goods. We‘re also happy to know this, because LED lighting products are among the $200 billion tariff list.
