US President Donald Trump, (AP)
WASHINGTON — President Donald Trump says he will extend a deadline to escalate tariffs on Chinese imports, citing “substantial progress” in weekend talks between the two countries.
Trump tweeted Sunday that there had been “productive talks,” adding that “I will be delaying the U.S. increase in tariffs now scheduled for March 1.”
Trump says that if negotiations progress, he will meet with Chinese President Xi Jinping at his Florida resort to finalize an agreement.
U.S. and Chinese negotiators met through the weekend as they seek to resolve a trade war that’s rattled financial markets.
Trump had warned he would escalate the tariffs he has imposed on $200 billion in Chinese imports, from 10 to 25 percent, if the two sides failed to reach a deal. But he signaled flexibility in recent days.