US to Postpone Tariffs on Chinese Goods Worth $250bln: Trump

TEHRAN (Tasnim) – On a request from Beijing, the US government agreed to delay for two weeks the further increase in tariffs on Chinese goods worth $250 bln, scheduled for October, US President Donald Trump said in a Twitter post.

US to Postpone Tariffs on Chinese Goods Worth $250bln: Trump

"At the request of the Vice Premier of China, Liu He, and due to the fact that the People's Republic of China will be celebrating their 70th Anniversary on October 1st, we have agreed, as a gesture of good will, to move the increased Tariffs on 250 Billion Dollars worth of goods (25% to 30%), from October 1st to October 15th," the US president said, Tass reported.

In late August, Trump announced his decision to further increase the tariffs on Chinese goods, due this autumn, in response to China’s decision to raise tariffs on US-made cars and spare parts.

He said that starting on October 1, the $250 billion of goods and products from China, currently being taxed at 25%, will be taxed at 30%. Additionally, the remaining $300 billion of goods and products from China that was being taxed from September 1st at 10% will be taxed at 15%.

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