WASHINGTON - Chinese officials expect United States President Donald Trump to delay a threatened tariff increase set for Sunday , giving more time to negotiate an interim trade deal that both sides continue to insist is close to fruition despite a series of missed deadlines, according to people familiar with the discussions.
"It's the President's decision," he said."I've got no indication that he's going to do anything other than have a great deal and put the tariffs on." Discussions now are focused on reducing those rates by as much as half as part of a phase one agreement that would relax tensions and pave the way for further talks.
US Commerce Secretary Wilbur Ross told the Fox Business Network on Tuesday that getting the right deal was more important than whether it came before or after Dec 15. The ongoing discussions illustrate the difficulties in reaching an accord that Mr Trump said more than eight weeks ago was basically done and would take three to five weeks to put on paper.The"phase one" deal is expected to be built largely around a significant increase in Chinese agricultural purchases in exchange for a reduction in tariffs by the US.
US farmers have been one of the constituencies hit hardest by Mr Trump's trade war with China, with the administration rolling out some US$28 billion in farm aid over the past two years to offset losses due to lost exports of soybeans and other commodities.
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