US May Postpone December 15 Tariffs On Billions Worth Of Chinese Imports - Reports

The United States may put off imposing billions worth of import taxes on Chinese goods in mid-December because neither country wants this, a source close to the US administration was quoted as saying by Chinese media

MOSCOW (UrduPoint News / Sputnik - 21st November, 2019) The United States may put off imposing billions worth of import taxes on Chinese goods in mid-December because neither country wants this, a source close to the US administration was quoted as saying by Chinese media.

"I don't think you'll have something big delivered by December 15, but I do think that you will have something that forestalls the tariffs because it is in both sides' interests," they told the South China Morning Post.

The Hong Kong paper cited sources on both sides of trade talks as saying Thursday that US and Chinese negotiators remained deadlocked on which tariffs should be scrapped under their so-called phase one deal.

The United States has imposed tariffs on China worth some $500 billion since last year, while China has retaliated with $110 billion worth of import duties. A further $157 billion of US taxes is poised to take effect next month.

The outlet said there was still hope that a watered-down pact might be reached by the December deadline. But US President Donald Trump said Wednesday he did not want to strike the deal yet because he believed that Beijing was not "stepping up to the level that I want."