Trade war postponed as deadline to raise tariffs on Chinese goods is extended indefinitely by Donald Trump

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Donald Trump has extended the deadline to raise tariffs on Chinese goods beyond this week’s initial deadline, saying that progress had been made in the latest round of talks, according to Bloomberg. China has promised to buy more American goods, including soybeans and energy products.

Robert Lighthizer, the US Trade Representative, said that it was too early to tell whether China will concede to US demands and that there are plans for Trump to invite his counterpart Xi Jinping for a summit to finalize a potential agreement.

“This administration is pressing for significant structural changes that would allow for a more level playing field, especially when it comes to issues of intellectual property rights and technology transfer,” Lighthizer said in a testimony before the House Ways and Means committee, cited by Bloomberg.

He also said that the issues between the US and China are too serious to be resolved with just promises of additional purchases.

The statements came after Donald Trump said earlier this week that he could sign a new trade deal with Xi. But speaking about the current deal, Lighthizer said that “there’s no agreement until there’s agreement on everything.”

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