WASHINGTON: US President Donald Trump has vowed to delay a planned tariff increase on Chinese exports after both sides hailed “substantial progress” in trade talks, raising the prospect of a summit with President Xi Jinping to seal the deal. Top negotiators met in Washington for four days of talks that ended on Sunday in an effort to resolve a months-long trade war that analysts feared could torpedo the global economy. “I am pleased to report that the US 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,” Trump wrote on Twitter. Noting the many questions on the state of trade negotiations from governors, Trump added: “China is everywhere.”“Let´s see what happens. Trump initiated the trade war, which ate into company profits and contributed to stock market plunges, because of complaints about unfair Chinese trade practices — concerns shared by the European Union, Japan and others.

Source: Pakistan Today February 25, 2019 10:34 UTC