Political Editors: Trump's Tariffs Taking Toll on Chinese Economy

We have agreed as a gesture of good will to move the increased Tariffs on 250bn dollars worth of goods, from Oct 1st to Oct 15th,” Trump tweeted

China scraps some US tariffs ahead of trade talks

But the 2020 hopefuls differentiated on the best way to address the problems - with most disparaging the slew of tariffs that President Trump has placed on China, as well as traditional US allies, like the European Union.

Hours after complimenting China for waiving tariffs on some USA products, President Trump announced on Wednesday a two-week delay, until October 15, of higher tariffs on $250 billion worth of Chinese-made goods. The delay could signal a de-escalation of tensions ahead of trade negotiations that are slated to resume in Washington next month, although expectations are tempered, analysts said.

It comes as the two sides prepare to hold fresh talks aimed at resolving their long-running trade dispute.

Analysts noted that the list of exemptions did not include soybeans or pork, two major USA exports.

Preliminary meetings are set to take place later this month in Washington before U.S. treasury secretary Steven Mnuchin and trade representative Robert Lighthizer meet China's vice premier Liu He in October.

Chinese leaders are resisting US pressure to roll back plans for government-led creation of global competitors in robotics and other industries.

By delaying his tariff hike, Trump allowed for the possibility they might make enough progress to avert the increase indefinitely.

Mr. Trump has imposed or announced penalties on about $550 billion of Chinese products, or nearly everything the United States buys from China.

US President Donald Trump has announced to delay his proposed in massive increase in Chinese import tariffs by 15 days.

The escalating trade war between the two countries has led to duties on billions of dollars in goods. That was in response to higher Chinese tariffs which were a reaction to a previous increase by the U.S.

Washington also imposed curbs on sales of us technology to Huawei Technologies Ltd., one of the biggest makers of smartphones and telecom switching equipment. "[China] hopes both sides would continue to meet each other halfway and adopt concrete actions to create favourable conditions for negotiations".

"The negotiators have had a year to come to an agreement, and they remain structurally at odds on key issues", said Andrew Polk, co-founder of research firm Trivium China in Beijing.

Earlier on Wednesday, a survey by a prominent American business association showed the trade dispute was souring the profit and investment outlook for USA companies operating in the world's second-biggest economy.

"The fact of the matter is China, not the very deficit, they're stealing our intellectual property, they're violating the World Trade Organization, they're dumping steel on us", former Vice President Joe Biden said.

"China is eating the tariffs", he tweeted Friday, repeating his claim that higher duties mean Washington is collecting billions of dollars from the Asian nation, without passing costs on to United States consumers.

The Chinese exemptions apply to raw materials needed by farmers and factories.

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