US agrees to suspend new China tariffs for 90 days

A worker operates a furnace at a steel plant in Hefei, Anhui province August 18, 2013. — Reuters pic
A worker operates a furnace at a steel plant in Hefei, Anhui province August 18, 2013. — Reuters pic

BUENOS AIRES, Dec 2 — The United States said yesterday that it agreed in a long-awaited summit with to suspend new tariffs for 90 days as the two powers seek to end a trade war.

The White House said a threatened increase of tariffs on US$200 billion (RM836.9 billion) worth of goods from 10 to 25 per cent, which was set to take effect on 1, would be put off for 90 days.

“If at the end of this period of time, the parties are unable to reach an agreement, the 10 per cent tariffs will be raised to 25 per cent,” a White House statement said after dinner talks between President Donald Trump and his counterpart Xi Jinping on the sidelines of a G20 summit in Buenos Aires. — AFP

Source: The Malay Mail Online







Leave a Reply

Your email address will not be published. Required fields are marked as *

Time limit is exhausted. Please reload CAPTCHA.