(Fred Imbert – CNBC)
U.S. Trade Representative Robert Lighthizer said Wednesday the U.S. is working towards formally abandoning plans to hike tariffs on Chinese goods from 10 percent to 25 percent, according to the Wall Street Journal.
The report said those plans would be shelved as long as the two countries continue talking, marking the clearest signal that a trade deal between them could be on the horizon.
Originally, the U.S. planned on hiking tariffs on $200 billion worth of Chinese goods if a deal could not be reached by 12:01 a.m. on Saturday. Click here to read more.
- Opening Statement of USTR Robert Lighthizer to the House Ways and Means Committee
- U.S. Drops Threat of 25% Tariffs on Chinese Goods in Sign That Accord Is Near (Wall Street Journal)
- U.S. to Suspend China Tariff Hike ‘Until Further Notice’ (Reuters)
- China Even Stiffs Tariff-Free U.S. Goods During Trump Trade War (Axios)
- Trump Urged to Stay Tough Over China Trade Deal (BBC News)