President Donald Trump announced on Twitter last week the scheduled Oct. 1, 2019, tariff increase from 25 to 30 percent on goods imported from China will be delayed until Oct. 15 as a “gesture of goodwill.”
The President tweeted on Sept. 11, that at the request of the Vice Premier of China, Liu He, and due to the fact that the People’s Republic of China will be celebrating its 70th anniversary on Oct. 1, the United States has agreed, as a gesture of goodwill, to move the increased tariffs on $250 billion worth of goods (25 percent to 30 percent), from Oct. 1 to Oct. 15.
At the request of the Vice Premier of China, Liu He, and due to the fact that the People's Republic of China will be celebrating their 70th Anniversary….
— Donald J. Trump (@realDonaldTrump) September 11, 2019
In reporting the news, Bloomberg noted negotiations are due to meet in the nation’s capital in the coming weeks to push forward talks to end the trade war. Little progress has been made thus far, and experts fear it unlikely substantive changes will occur before the Oct. 15 deadline.
Section 301 List 1, List 2 and List 3 imports will be impacted by the price increase when the tariff is implemented.
