U.S President To Hold Tariff Hike On Chinese Goods

The President of America had decided to hike the tariffs related to Chinese goods, but now he has decided to holdup this plan as there are progress in trade talks between the two countries. The tariff was expected to come into effect from March where the import duties were increased from 10 to 25 percent. Donald Trump also said he will be planning meet Xi Jinping, the president of China if the talks go smoothly.

Trump made an announcement that he will impose additional $267bn tariff on Chinese products. The US has added $250bn tariffs on Chinese goods before for which China had forced $110bn duties for the US products. The present trade talks is considered to be going smooth which would not affect the trade war between the two nations further. Trump also revealed last week that the negotiations are going good, but there were no proper details whether there was any agreement signed during this time.