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The time is now 9:28 am
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May 3, 2024, 9:28 am
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Trump to Hold Off on Tariff Hikes Against China, Negotiations Continue
Published:
Trump to Hold Off on Tariff Hikes Against China, Negotiations Continue
"The White House announced Saturday that President Trump has agreed not to further raise tariffs on $200 billion worth of Chinese imports from ten percent to 25 percent as he had previously threatened, after a dinner meeting at the G-20 summit with Chinese President Xi Jinping.
In exchange, China will agree to purchase a “not yet agreed upon, but very substantial” amount of agricultural, energy, industrial, and other product from the U.S., to reduce the trade imbalance between the two countries, White House Press Secretary Sarah Sanders said in the statement.
China has agreed to start purchasing agricultural product from our farmers immediately, it said. ...."
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