BEIJING (Sputnik): On 29 March, the White House said in a press release that the US and China have continued to make progress in their ongoing trade negotiations during recent consultations in Beijing.
The trade talks are aimed at putting an end to the tariff war between the two states.
Beijing has decided to prolong the suspension of increased tariffs on US-made vehicles and automobile parts for a yet unspecified period of time starting from 1 April, the Chinese Finance Ministry announced on Sunday, just two days after the eighth round of “constructive” trade talks with Washington.
“Aiming at implementing the agreements [reached] by the two countries’ leaders… the PRC’s [People’s Republic of China] commission on customs tariffs has ordered that the suspension of the increased customs duties on US vehicles and parts should be prolonged starting from April 1, 2019,” the ministry said in a statement.
This follows US President Donald Trump’s announcement that he postponed the new tariff spike that was scheduled to go into effect on 1 March, noting that there was a good chance that Beijing and Washington would reach a trade deal.
Earlier, the Chinese Finance Ministry suspended the tariffs for a three-month period from 1 January until 31 March.
The progress comes after the US and China commenced trade talks in an attempt to put an end to the tariff war between the two countries that has lasted since last June; negotiations have been ongoing for the past few months.
