Donald Trump delays tariff hike on Chinese goods, sending stock markets soaring

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Asian shares rise sharply after US president says he will hold a summit with Xi Jinping to conclude an agreement to end trade standoff

Shares in Asia have soared after Donald Trump said he would delay an increase in tariffs on Chinese goods, citing “substantial progress” in trade talks with China over the weekend.

Related: Memo of misunderstanding: Trump clashes with trade adviser over China talks

I am pleased to report that the U.S. has made substantial progress in our trade talks with China on important structural issues including intellectual property protection, technology transfer, agriculture, services, currency, and many other issues. As a result of these very……

….productive talks, I will be delaying the U.S. increase in tariffs now scheduled for March 1. Assuming both sides make additional progress, we will be planning a Summit for President Xi and myself, at Mar-a-Lago, to conclude an agreement. A very good weekend for U.S. & China!

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Link : Donald Trump delays tariff hike on Chinese goods, sending stock markets soaring

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