US President Donald Trump has anunced a delay to his proposal of a massive increase in Chinese import tariffs by 15 days. Describing this as a goodwill gesture, Trump said on Wednesday night that he had moved increased tariffs on USD 250 Billion worth of goods October 1 to October 15.

A gesture of goodwill by Donald Trump

"At request of Vice Premier of China, Liu He, and due to fact that People's Republic of China will be celebrating ir 70th Anniversary on October 1st, we have agreed, as a gesture of goodwill, to move increased Tariffs on 250 Billion Dollars worth of goods (25% to 30%), from October 1st to October 15th," Trump tweeted. Top Chinese officials are scheduled to arrive in US for talks early October. Since last year, two countries are working on a comprehensive trade deal, which t only addresses issue of balance of trade but also ends ft of intellectual property and coercion of American companies in China.

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Beijing anunced temporary exemption of US exports from tariff increase 

US President Donald Trump on Wednesday welcomed an apparent olive branch from Beijing in grinding trade war between two nations, which came weeks before negotiations are due to resume. Beijing anunced it was temporarily exempting some US exports from tariff increases, a gesture that lifted equities markets long buffeted by ups and downs in conflict w entering its second year. "It was a big move," Trump told reporters at White House. He reiterated that Beijing was under pressure to strike a bargain as its ecomy weakens, which he attributed to US actions.

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Top negotiators expect to reconvene in Washington early next month after an acrimonious summer in which trade relations deteriorated sharply and both governments anunced waves of new tariffs in a stand-off that is dragging on global ecomy. However, goods exempted do t include high-profile agricultural items like soybeans and pork that could be crucial to ultimate success of any agreement. exemptions will become effective on September 17 and be valid for a year, according to Customs Tariff Commission of State Council, which released two lists that include seafood products and anti-cancer drugs.

lists mark first time Beijing has anunced products to be excluded from tariffs. Or categories that will become spared include alfalfa pellets, fish feed, medical linear accelerators and mold release nts, and commission said it was also considering furr exemptions. Both sides imposed fresh tit-for-tat tariffs on September 1, adding to duties that w cover hundreds of billions of dollars of goods. 

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US businesses in China pessimistic 

But US businesses in China are increasingly pessimistic about ir prospects, with a report released Wednesday saying growing numbers of companies expect ir revenues and investment in local market to shrink. American Chamber of Commerce in Shanghai said just 47 percent said y expected to increase ir investments in China in 2019 -- down from 62 per cent last year -- while three-quarters of businesses surveyed said y opposed use of punitive tariffs by United States to force China into a trade deal.

In a sign of ecomic pressure being felt by Asian giant, central People's Bank of China said on Friday it would lower required amount of cash that lenders must keep in reserve, allowing for an estimated USD 126 billion in additional loans to businesses. China's ecomy grew 6.2 per cent on-year in second quarter, lowest rate in nearly three decades -- a fact Trump highlighted on Wednesday. Auto sales in China fell by 6.9 per cent in August compared with previous year, an official industry association said Wednesday, extending a slump in a massive auto market that has long been a cash cow. It was 14th consecutive monthly drop.

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