WASHINGTON (AP) — 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."
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......— Donald J. Trump (@realDonaldTrump) February 24, 2019
....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!— Donald J. Trump (@realDonaldTrump) February 24, 2019
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.