TWITTERVERSE (BRAIN) — According to tweets sent out from the account of President Donald Trump on Sunday, the U.S. will delay an increase in tariff rates on Chinese goods, initially set to happen on March 1.
The tariff tranche, which includes Chinese bike-related products worth about $1 billion a year, increased by 10 percent in September and was to increase to 25 percent on Jan. 1. That New Year's increase was later pushed off 90 days.
Trump's tweets did not indicate how much longer the increase would be delayed but said trade talks with China had made "substantial progress" and that a summit is being planned with China's President Xi at Trump's private club.
Neither the U.S. Trade Representative or the White House has elaborated on the tweet.
