Both China and the U.S. are confirming that there will be working-level or deputy-level talks between the two countries next week.
That came in the wake of President Donald Trump announcing Wednesday even he will delay for two weeks a tariff rate increase on $250 billion worth of Chinese goods ahead of upcoming trade negotiations.
“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 percent to 30 percent), from October 1st to October 15th,” Trump said in a pair of tweets.
Meanwhile, China’s Commerce Ministry today welcomed the postponement and said Chinese companies had started making price inquiries for U.S. agricultural goods including soybeans and pork, although there were no details on the timing or size of any intended purchases. Beijing suspended purchases of the U.S. products in August.
Ministry spokesman Gao Feng said that the possible resumption of agricultural products is not a bargaining chip in trade talks. With top-level talks hoped for in early October, those are expected before October 15 which would open the door to a further postponement of higher U.S. tariffs.
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