At the start of September an additional 10% duty will be put on $300bn worth of Chinese goods. This means that virtually all product from China entering the US will then be subject to tariffs.
Donald Trump says his administration will enter into an initial bilateral trade deal with Japan in the coming weeks. But the fate of cars and a currency clause remain unresolved.
President Trump said the US would delay a tariff hike for two weeks, after China announced it would lift some trade restrictions. The mutual concessions may ease tensions ahead of high-level talks early next month.
The US president increased tensions with the hike as the stock markets went into a tailspin. Trump tweeted that he would be increasing tariffs by 5% on $300 billion of Chinese goods.
The protracted trade dispute between the US and China is affecting other countries as well, Merkel has told the Chinese premier. The German chancellor also stressed that a peaceful solution is needed for Hong Kong.
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