Report: U.S., China reach ‘truce’ over next tariff round
HIGH POINT — China and the United States have agreed tentatively to a truce in the trade war that would delay a 25% tariff on an additional $300 billion in Chinese imports, according to news reports.
A story produced by South China Morning Post in partnership with Politico, said details of the agreement will be forthcoming in a press release ahead of a planned meeting between Chinese President Xi Jinping and President Donald Trump at the G-20 summit in Osaka, Japan, this weekend.
Citing an unnamed source, the report said the agreement to delay the 25% tariff on additional goods was Xi’s price for holding the meeting in Osaka aimed at restarting trade talks to resolve the overall trade dispute.
The so-called truce apparently relates only to this next round of tariffs on $300 billion in goods and has less to do with furniture industry than other targets of consumer spending, including child products such as high chairs, booster seats and swings.