President Trump announced via Twitter that the U.S. would delay a planned tariff increase on $250 billion worth of Chinese products, including hardwood flooring, until Oct. 15.
Trump had planned to increase existing 25% tariffs to 30% on Oct. 1, but said on Twitter that he would delay the increase “as a gesture of good will,” as Oct. 1 is the 70th anniversary of the People’s Republic of China. The 25% tariffs remain in effect.
The U.S. and China plan to hold continued trade talks in Washington in early October, according to The Wall Street Journal.
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