This is a new appeasement in the standoff between China and the United States. The two countries have each taken a step towards the other, Wednesday, September 11, so that the resumption of trade negotiations in early October is done in good conditions.
Donald Trump said in the evening that the United States had agreed to postpone for two weeks, from October 1 to October 15, a five-percentage-point increase in tariffs on $ 250 billion of Chinese products imported as " sign of good will ".
On the 1st of June, we have agreed, we are going to have an increase in the price of 250 Billion Dollars worth of goods (25% to 30%), from October 1st to October 15th.
Donald J. Trump (@realDonaldTrump) September 11, 2019The US president said he responded favorably to a request by Chinese Vice Premier Liu He, chief trade negotiator for Beijing. He added that he had taken into account the fact that the People's Republic of China was going to "celebrate its 70th anniversary".
Commercial practices deemed "unfair"
A few hours earlier, China has announced that 16 US product categories would be exempted from new tariffs it is preparing to enforce in retaliation for additional taxes decided by Washington. Beijing is seeking to ease the pressure on Chinese manufacturers and professionals, who suffer the additional costs of these surcharges.
Trade talks between the two largest economic powers in the world, which began 18 months ago, will continue this month with working meetings in Washington between US and Chinese representatives. They must then continue in early October, still in the US capital, with the first meeting at ministerial level since May.
Washington is demanding that the Chinese authorities put an end to "unfair" commercial practices, particularly the forced transfer of technology, massive subsidies to Chinese state-owned enterprises, and the theft of intellectual property.
With Reuters and AFP