Trump delays China tariffs rise as progress made

US President Donald Trump on Sunday announced that he would be delaying the increase of tarrifs on Chinese imports, which would come to effect if the two sides failed to reach a deal by 2 March.

Washington: US President Donald Trump on Sunday extended the China tariff deadline, citing "substantial progress" in trade talks.

Taking to Twitter, Trump said he would delay the increase in US tariffs because of the "productive talks".

"Assuming both sides make additional progress," Trump said he hoped to hold a summit with President Xi Jinping to conclude an agreement at his Mar-a-Lago resort.

"A very good weekend for U.S. & China," the president concluded.

Trump had originally warned that he would escalate the tariffs he has imposed on 200 billion US dollars in Chinese imports, from 10 to 25 percent, if the two sides failed to reach a deal by 2 March.

But in recent days he raised the possibility of extending that deadline if negotiators were nearing an agreement.