Tag Archives: tariffs

The U.S. and China have agreed to forgo the next round of tariffs that President Trump threatened to impose on $300 billion in Chinese goods.

That report comes from both Politico and the South China Morning Post. It comes ahead of a meeting between Trump and Chinese President Xi Jinping this weekend at the G-20 Summit in Osaka, Japan. One source tells the South China Morning Post that Trump’s decision to temporarily halt raising tariffs on more Chinese goods was President Xi’s price for agreeing to meet with him in Japan. It’s well known that agriculture has been one of the hardest-hit economic sectors by Trump’s trade dispute with China. Other countries have responded to American tariffs on imports by trying to exert pressure on a big part of the electorate that ultimately helped Trump win the presidency.

Also on the trade front, U.S. Trade Representative Robert Lighthizer made a pre-Japan visit down Pennsylvania Avenue in Washington, D.C., this week to get some more face time with House Democrats before heading overseas for the G-20 gathering. Trump’s trade boss left Democrats feeling more optimistic about getting their concerns with the U.S.-Mexico-Canada Trade Agreement resolved

President Trump tweeted late Friday that he’d suspended plans to impose tariffs on Mexican goods, saying the U.S. and Mexico had reached an agreement on stemming illegal immigration.

The president says Mexican officials “agreed to take strong measures” to cut down on the flow of illegal immigrants traveling through Mexico and entering the U.S. An Associated Press report says the move puts to an end a threat that had sparked warnings from members of Trumps party, as well as administration officials, about long-term damage to the economy.

The damage would include driving up prices for consumers, as well as put the recently-updated U.S.-Mexico-Canada Trade Agreement in jeopardy. U.S. and Mexican officials met for more than 10 hours on Friday and ended a third day of talks with an agreement that would satisfy Trump’s demand that Mexico crack down on illegal immigration into the U.S.

Republicans in Congress had recently warned the president that they were ready to try and stop imposing tariffs on Mexico that were scheduled to begin on Monday. They were worried about driving up costs to consumers and the damage to the economy.