Trump weighs extending China tariff deadline by 60 days
AEI Director of Asian Studies Dan Blumenthal discusses how U.S.-China technology competition will impact the trade talks.
President Trump is considering extending the March 1 deadline for the imposition of higher tariffs on China by 60 days as the world’s two largest economies continue trade negotiations.
During an address from the White House Rose Garden on Friday, Trump said he might extend the March 1 deadline -- after which the U.S. would more than double its tariffs on Chinese goods -- while keeping current tariffs in place.
“There is a possibility that I will extend the date,” Trump said. “But if I do that, if I see that we’re close to a deal or the deal is going in the right direction, I would do that at the same tariffs that we’re charging now, I would not increase the tariffs.”
Earlier in the week, on Tuesday, Trump suggested he might let the deadline “slide for a little while” if talks go well, though he noted that he was not “inclined” to do so.
Late Wednesday, however, Bloomberg reported that Trump is thinking about tacking on an additional 60 days to the deadline in order to let negotiations continue.
A U.S. delegation, including Treasury Secretary Steven Mnuchin and Trade Representative Robert Lighthizer, arrived in Beijing this week for the latest round of closed-door trade talks. Both sides have remained tight-lipped about any potential progress. Trump previously said that whether he extends the trade deadline will depend on the outcome of the meetings -- like whether they’re close to reaching a deal or not.
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In December, Trump agreed to a 90-day truce that will end on March 1. The next day, a 10 percent tariff imposed on $200 billion of Chinese imports would increase to 25 percent.
The trade war began nearly one year ago when Trump, who has long railed against trade deficits, slapped a tariff on steel and aluminum imports from China. He’s demanded that China close the gap by buying more American goods, in addition to stopping its purported practice of stealing technology from U.S. companies.