US/China Talking Before Duty Deadline

On March 2nd 2019, tariffs across $200 billion worth of goods from China to the US are set to rise from 10% to 25%, unless a deal can be reached between the countries.

According to President Donald Trump, there is a possibility that the US will extend the March 2nd deadline if the US and China are close to reaching an agreement.

Currently, the US is collecting 25% on $50 billion of Chinese products and 10% on a further $200 billion. The 10% rates were due to rise to 25% on 1st January 2019, but Trump agreed with Chinese President Xi Jinping  to postpone the date.

This week a Chinese trade delegation will visit Washington to continue talks with the US, although Trump insists he will be meeting the Chinese president afterwards to finalise further deals ‘one to one’.