China expects US to defer Dec. 15 tariff hike amid talks
11.12.2019 - Davydova Maria
China expects US to defer Dec. 15 tariff hike amid talks

Amid the ongoing trade deal between China and the U.S., Chinese trade officials expect the U.S. to defer tariff hike slated on Dec. 15.

According to sources privy to the on-going talks, the two sides are getting closer to secure an agreement of lowering the tariffs already in place. But instead of lifting the existing tariffs, the two countries vie for a rate reduction of tariffs already in effect.

However, President Donald Trump has not made any clear signal of deferring tariffs scheduled to take effect on Dec. 15 on $160 million worth of Chinese goods including toys and smartphones.

“It’s the president’s decision. I’ve got no indication that he’s going to do anything other than have a great deal or put the tariffs on,” said White House Trade Adviser Peter Navarro.

China is hoping for the U.S. to reduce the added 25% duty on around $250 billion of Chinese products and a 15% levy on another set of $110 billion of imports which were imposed during the nearing two years of the trade conflict.

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