Donald Trump says he is delaying plans to increase tariffs on Chinese goods after “significant progress” in talks to end the punishing US-China trade war.
The US president was planning to ramp up duties on $200bn (£153bn) in Chinese imports this Friday – with tariffs increasing from 10% to 25%.
But on Twitter, Mr Trump said a number of breakthroughs have been achieved by Washington and Beijing on contentious areas including intellectual property protection, technology transfers, currency and agriculture.
He wrote: “A very good weekend for U.S. & China!”
Mr Trump added that he is prepared to meet with his Chinese counterpart Xi Jinping to conclude an agreement as long as “additional progress” is made by both sides.
He suggested that the summit could take place at Mar-a-Lago property in Florida, where the two world leaders have held talks in the past.
And late on Sunday evening, he hinted there could be “very big news over the next week or two” if all goes well in negotiations.
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