FILE PHOTO: The Chinese and U.S. national flags are seen before the start of a Treaty on the Non-Proliferation of Nuclear Weapons (NPT) conference with the UN Security Council’s five permanent members (P5) China, France, Russia, Britain, and U.S., in Beijing, China, January 30, 2019. REUTERS/Thomas Peter/Pool
(Reuters) – The United States Trade Representative’s office (USTR) has released language to delay a scheduled hike in tariffs on $200 billion worth of Chinese goods, due to be published in the Federal Register next week.
The notice is scheduled to be published in the Federal Register next Tuesday, a USTR spokeswoman said. In it, the agency said it is “no longer appropriate” to raise the rates because of progress in negotiations since December 2018.
A tariff increase to 25 percent from 10 percent was initially scheduled for Jan. 1, but after productive conversations with President Xi Jinping, the Trump administration issued a 90-day extension of that deadline.
Citing progress in talks with Chinese negotiators, Trump on Sunday said he would again delay the increase.
“The rate of additional duty for the products covered by the September 2018 action will remain at 10 percent until further notice,” the notice said.
Reporting by Chris Prentice; editing by Grant McCool