Section 301 tariffs across $200 billion worth of goods from China are set to rise from 10 percent to 25 percent on March 2, unless the U.S. and China can reach a deal.
“There is a possibility” President Donald Trump will extend the March 2 deadline for raising tariffs on China, depending on if the U.S. and China are “close” to reaching an agreement to resolve trade tensions or if “the deal is going in the right direction,” Trump said in remarks at the White House on Friday.
“I would do that at the same tariffs that we’re charging now,” he said. “I would not increase the tariffs.”
The U.S. is collecting tariffs of 25 percent on goods from China totaling $50 billion in 2017 import value and tariffs of 10 percent on goods from China across $200 billion in 2017 import value.
The 10 percent tariffs had been set to increase to 25 percent on Jan. 1, but Trump and Chinese President Xi Jinping on Dec. 1 agreed to engage in talks to resolve U.S. concerns pertaining to Chinese commercial practices and to postpone the tariff raise until March 2.
A Chinese trade delegation will visit Washington, D.C., next week to continue talks with the U.S., Trump said.
“And then I’ll be meeting with President Xi at some point after that … for some remaining deals,” Trump said. “We’ll make them directly, one-on-one, ourselves.”
Trump says he again could delay raise in China tariffs
