Trump Delays China Tariff Hike
He’s buying time. Citing “substantial progress” in trade negotiations, President Donald Trump tweeted yesterday that he’ll extend the March 1 deadline for dramatically increasing tariffs on $200 billion in Chinese imports. He didn’t say how long the extension would last, but floated a possible summit with President Xi Jinping at Mar-a-Lago if all goes well in order “to conclude an agreement.”
What’s the biggest challenge? While the two sides have reportedly agreed on agriculture and intellectual property protections, experts say the real key for Washington is getting Beijing to budge on ending subsidies to state firms.