Trump postpones tariff increases on Chinese products

US President Donald Trump announced on Wednesday (09/11) that he would postpone for two weeks the raising of tariffs from 25% to 30% over US$250bn in Chinese imports.

Initially, the tariffs would be effective on October 1. Now, the forecast is that tariffs will rise on October 15.

For Trump, the decision is a “gesture of goodwill,” which meets a request from Chinese Vice Premier Liu He, since the 70th anniversary of the founding of the People’s Republic of China is celebrated on October 1.

Among the items that will experience this rate hike are raw materials used to produce goods.

Pork imports

Still on trade relations between the two countries, China wants to increase its purchases of pork meat abroad, including the United States and the European Union. Part of the meat would be purchased for state reserves, according to sources in the country. The goal is to maintain the high price.

Source: Valor

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