Tariff Increase Delayed

President Trump announced yesterday that he will delay the increase in tariffs on $250 billion worth of goods from October 1 to October 15 as a “gesture of good will” to China. Trump stated that the move was “at the request of the Vice Premier of China, Liu He.”

Liu He will be in Washington in early October for negotiations. Barring an agreement being reached between the two sides, the tariffs on Section 301 Chinese Imports for List 1, List 2, and List 3 (with the exception of tariffs where exclusions have been granted) will increase from 25% to 30% on October 15.