Tue February 26, 2019

President Trump has indicated that he will not increase import tariffs on $200 billion worth of Chinese imports found on List 3 of the Section 301 tariffs. The tariffs were to be increased from 10 percent to 25 percent on March 2 if a trade deal with China had not been reached by March 1. Enough progress has been made on the negotiations between the U.S. and Chinese delegations that Trump decided to delay the imposition of higher tariffs while talks continue. Trump did not give any details on the length of the delay or the ongoing negotiations, but U.S. Trade Representative Robert Lighthizer is expected to formally announce the tariff delay this week. Reports indicate that a deal between Trump and Chinese President Xi Jinping could be signed sometime in March at Mar-A-Lago in Florida. The deal could consist of six memoranda of understanding (MoUs) on the “structural issues” of the negotiations: intellectual property rights, forced technology transfer and cyber theft, currency, non-tariff barriers, services and agriculture.

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