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US President Trump extends moratorium on punitive tariffs

25.02.2019 − 

US President Donald Trump announced an extension of the moratorium beyond 1 March in the trade dispute with China on Sunday afternoon via Twitter. In the tweet, Trump cites the progress made in the ongoing negotiations as justification. A trade agreement is to be signed at a summit meeting between Trump and China's head of state Xi Jinping in Mar-a-Lago, Florida. However, the tweet does not specify concrete dates until which the introduction of additional punitive tariffs will be suspended and when the meeting in Mar-a-Lago will take place.

In the run-up to the announcement, US media reported on a possible meeting at the end of March. The progress in the trade talks mentioned by Trump is supposed to include commitments by China to import additional US goods worth US$ 1.2bn in the future.

Trump and Xi had decided on 1 December at the G20 summit in Buenos Aires/Argentina to negotiate the future trade relations of both countries within a period of 90 days. During this period, no further tariffs should be imposed beyond the import tariffs imposed by both the US and China until 1 December.

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