US said to delay excess capacity tariffs until after the Xi summit, reports Bloomberg News
The US plans to delay new excess capacity tariffs until after the Trump-Xi summit, with uncertainty remaining over whether duties will stay at the expected 20% level.
News detail
The US is expected to delay the announcement of new tariffs over allegations of trading partners’ excess manufacturing capacity at least until after next week’s planned summit between Presidents Xi Jinping and Donald Trump, according to people familiar with the matter. It’s also uncertain whether the final tariff rate will change from the previously expected level, which would restore Trump’s second-term duties on China to around 20%, a rate Beijing has previously said is consistent with its trade truce with Washington.
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