BUENOS AIRES, Dec 2 — The United States said yesterday that it agreed in a long-awaited summit with China 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 Chinese goods from 10 to 25 per cent, which was set to take effect on January 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