China welcomes US decision of suspending tariff hike

China has welcomed the US decision of suspending the tariff hike of goods imported from China, as the two countries intensified negotiations to reach a deal to end the current trade war between the world’s two largest economies.

The Customs Tariff Commission of China said it has accepted the statement from US Trade Representative Office, which stated that Chinese goods that have been subject to tariffs since September 2018 will maintain a 10-per cent tariff rate until further notice.

The US has earlier announced a tariff increase of Chinese goods from 10 per cent to 25 per cent, which was initially scheduled for January 1, but the Trump administration extended the deadline for 90 days due to progress in talks.

US President Donald Trump has said, he may host his Chinese counterpart Xi Jinping at his personal Mar-a-Lago resort in Florida next month to discuss the final terms of a trade deal being negotiated by the two countries.

Mr Trump said this after his meeting with a Chinese trade delegation led by Vice Premier Liu He in Washington.

Both countries are locked in a trade war since US imposed heavy tariffs on imported steel and aluminium items from China in March last year.

In response, China imposed tit-for-tat tariffs on billions of dollars worth of American imports.

Top trade officials from America and China are currently holding talks in the US to negotiate a comprehensive trade deal before their self-imposed deadline of the 1st of next month.

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