US reportedly set to delay new Chinese trade tariffs

Negotiators from the US and China are working to postpone the introduction of new tariffs on Chinese exports in mid-December.

New tariffs on $156.0bn-worth of Chinese exports had been scheduled to kick-in on 15 December.

Citing officials from both sides, Dow Jones Newswires reported that negotiators were laying the groundwork to delay the new levies, even as they continued to haggle over the exact amount of any Chinese commitments to increased agricultural purchases.

The US President was insisting on such commitments as a pre-requisite for a preliminary trade deal.

Overnight, US Agriculture Secretary, Sonny Perdue, said he believed that there would be "some backing away" from the 15 December tariffs.

And according to Bloomberg, which cited people familiar with the matter, Chinese officials believed that Washington would delay the threatened new tariff increase, as the two sides focused on lowering tariffs instead of removing specific products from each of their lists.

Nevertheless, in remarks to Fox Business Network on Tuesday, US Commerce Secretary, Wilbur Ross, reiterated that getting the right deal was more important than if it was signed before or after 15 December.

Bloomberg also reported that Washington wanted Beijing to commit to a firm schedule for purchasing farm goods, with China insisting that any commitments should respect World Trade Organisation rules.