US President Donald Trump yesterday announced the extension of the March 1 deadline for increasing tariff on import of Chinese products, saying there had been "significant progress" made in negotiations with a visiting trade delegation from the far-east nation.
Trump also announced that he'll be hosting his Chinese counterpart, Xi Jinping, at his Mar-a-Lago resort in Florida soon, to ink an agreement.
Exact date of Florida meeting has not been decided yet
The exact date of the Florida meeting has not been decided yet.
"I am pleased to report that the US has made substantial progress in our trade talks with China on important structural issues," Trump said in a tweet.
"As a result of these very productive talks, I'll be delaying the US increase in tariffs now scheduled for March 1," said the US President.
Made progress with China on important structural issues, said Trump
I am pleased to report that the U.S. has made substantial progress in our trade talks with China on important structural issues including intellectual property protection, technology transfer, agriculture, services, currency, and many other issues. As a result of these very......
Will be planning summit with President Xi at Mar-a-Lago: Trump
....productive talks, I will be delaying the U.S. increase in tariffs now scheduled for March 1. Assuming both sides make additional progress, we will be planning a Summit for President Xi and myself, at Mar-a-Lago, to conclude an agreement. A very good weekend for U.S. China!
Following talks with Trump, Chinese delegations extended their Washington stay
A high-level Chinese trade delegation led by its Vice Premier Liu He concluded its latest round of talks with a US team led by US Trade Representative Robert Lighthizer.
Following the meeting with Trump at the Oval Office, the Chinese delegation extended its stay in Washington DC by another two days.
Trump and Xi decided to pause their trade war during their December dinner-meeting.
Trump, Xi had agreed on March 1 deadline in December
Trump and Xi during their December 1 dinner meeting in Buenos Aires decided to pause their trade-war and negotiate an agreement by March 1. In the absence of such an agreement, Trump had warned that he would impose additional tariffs on import of Chinese products.
Kim and Trump to hold second summit in Hanoi tomorrow
On Sunday, Trump praised Xi for his help in North Korea talks.
Trump, the 45th President of the United States, leaves for Vietnam this morning to have his second summit with North Korean leader Kim Jong-un in Hanoi on February 26 and 27.
Kim also departed for Vietnam by train yesterday.
The second summit is expected to address the issue of denuclearization in details.