US Tariff Announcement Delay Amidst Xi-Trump Summit
Bloomberg reported the delay as officials weigh a 7.5% tariff on Chinese goods and broader duties tied to excess manufacturing capacity.
- The Trump administration is expected to delay announcing new tariffs on Chinese goods until after the summit between President Donald Trump and Chinese President Jinping, scheduled for September 24 in Washington.
- Officials previously intended to issue a report on excess manufacturing capacity recommending a 7.5 percent tariff on Chinese products under Section 301 of the 1974 Trade Act. The investigation targeted alleged unfair trade practices.
- These expected levies aim to restore duties on Chinese goods to around 20%, aligning with previous trade truce levels. The move follows Supreme Court rulings that overturned earlier country-specific emergency tariffs implemented by The United States.
- While the reason for the delay remains unclear, officials from The United States and China are expected to discuss trade, the conflict in Iran, and artificial intelligence during the summit. Uncertainty persists over final tariff rates.
- Chinese Foreign Minister Wang Yi emphasized that future high-level exchanges should be conducted in a spirit of "equality, respect and mutual benefit." The statement reflects ongoing efforts to manage complex bilateral relations.
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The United States will not impose new tariffs on China ahead of a planned meeting between President Donald Trump and Chinese leader Xi Jinping, Bloomberg reported, citing sources familiar with the administration's discussions. The publication said the decision was related to the upcoming talks in Washington and an attempt to avoid escalating tensions just before the meeting. Bloomberg also noted that the expected US trade measures have been post…
The US is likely to postpone the announcement of new duties at least until the scheduled meeting of President Donald Trump and President Xi Jinping of the PRC, writes Bloomberg. "US is expected to postpone the announcement of new duties associated with (...) the excess production capacity of trading partners at least until the next week's summit between (...) Xi Jinping and Donald Trump," reports the agency with reference to the source.
US expected to delay excess capacity tariffs until after Xi summit: Report
The United States is expected to postpone announcing new tariffs targeting what it considers excess manufacturing capacity among trading partners until after next week’s planned summit between Chinese President Xi Jinping and US President Donald Trump, Bloomberg News reported, citing people familiar with the matter.
US Tariff Announcement Delay Amidst Xi-Trump Summit
The United States is expected to defer the announcement of new tariffs concerning trading partners’ excess manufacturing capacity. This delay is anticipated to last until after the upcoming summit between Chinese President Xi Jinping and US President Donald Trump, according to a Bloomberg report citing unnamed sources.
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