U.S. President Donald Trump is delaying planned tariff increases on $250 billion of Chinese imports as a goodwill gesture.
In a series of tweets Sept. 11, Trump said he has agreed to Chinese Vice Premier Liu He's request "to move the increased tariffs on [$250 billion] worth of goods (25% to 30%), from [Oct. 1 to Oct. 15]." The president noted that China will be celebrating its 70th anniversary Oct. 1.
Trump's announcement came hours after Beijing disclosed a number of U.S. products, including whey and fish meal and lubricants, that would be exempt from Chinese tariffs imposed last year. He threatened the higher tariffs on billions of dollars in Chinese goods last month after China announced 5% to 10% levies on about $75 billion of U.S. imports.
Separately, China is considering resuming U.S. agricultural imports, which it stopped in August after talks reached an impasse, Bloomberg News reported, citing people familiar with the situation.
Major farm-products such as soybeans and pork imported from the U.S. are not part of China's exemptions list.
Chinese negotiators will head to Washington in early October to restart trade talks with their U.S. counterparts.
Futures for the S&P 500 index rose 0.4% at 1:40 a.m. ET on Sept. 12 and China stocks were up 0.3%.
