Sign up for our daily briefing
Make your busy days simpler with Axios AM/PM. Catch up on what's new and why it matters in just 5 minutes.
Catch up on the day's biggest business stories
Subscribe to Axios Closer for insights into the day’s business news and trends and why they matter
Sign up for Axios Pro Rata
Dive into the world of dealmakers across VC, PE and M&A with Axios Pro Rata. Delivered daily to your inbox by Dan Primack and Kia Kokalitcheva.
Sports news worthy of your time
Binge on the stats and stories that drive the sports world with Axios Sports. Sign up for free.
Tech news worthy of your time
Get our smart take on technology from the Valley and D.C. with Axios Login. Sign up for free.
Get the inside stories
Get an insider's guide to the new White House with Axios Sneak Peek. Sign up for free.
Catch up on coronavirus stories and special reports, curated by Mike Allen everyday
Catch up on coronavirus stories and special reports, curated by Mike Allen everyday
Want a daily digest of the top Denver news?
Get a daily digest of the most important stories affecting your hometown with Axios Denver
Want a daily digest of the top Des Moines news?
Get a daily digest of the most important stories affecting your hometown with Axios Des Moines
Want a daily digest of the top Twin Cities news?
Get a daily digest of the most important stories affecting your hometown with Axios Twin Cities
Want a daily digest of the top Tampa Bay news?
Get a daily digest of the most important stories affecting your hometown with Axios Tampa Bay
Want a daily digest of the top Charlotte news?
Get a daily digest of the most important stories affecting your hometown with Axios Charlotte
Want a daily digest of the top Nashville news?
Get a daily digest of the most important stories affecting your hometown with the Axios Nashville newsletter.
Want a daily digest of the top Columbus news?
Get a daily digest of the most important stories affecting your hometown with the Axios Columbus newsletter.
Want a daily digest of the top Dallas news?
Get a daily digest of the most important stories affecting your hometown with the Axios Dallas newsletter.
Want a daily digest of the top Austin news?
Get a daily digest of the most important stories affecting your hometown with the Axios Austin newsletter.
Want a daily digest of the top Atlanta news?
Get a daily digest of the most important stories affecting your hometown with the Axios Atlanta newsletter.
Want a daily digest of the top Philadelphia news?
Get a daily digest of the most important stories affecting your hometown with the Axios Philadelphia newsletter.
Want a daily digest of the top Chicago news?
Get a daily digest of the most important stories affecting your hometown with the Axios Chicago newsletter.
Sign up for Axios NW Arkansas
Stay up-to-date on the most important and interesting stories affecting NW Arkansas, authored by local reporters
Want a daily digest of the top DC news?
Get a daily digest of the most important stories affecting your hometown with the Axios DC newsletter.
Photo: Thomas Peter-Pool/Getty Images
President Trump announced on Twitter Wednesday he would delay the increase on existing tariffs on $250 billion worth of Chinese goods ahead of the U.S. resuming trade talks with China.
Why it matters: There's evidence that the U.S.-China trade war has hurt both of the world's 2 leading economies. It's dented consumer sentiment and a survey of members of the American Chamber of Commerce in Shanghai released Wednesday found 51% said U.S. and Chinese tariffs had a negative effect on revenue.
- Axios' Neal Rothschild noted this month that Trump's trade war has led to bigger deficits with China, even though it was intended to improve the balance.
- The International Monetary Fund has said the tensions have weighed down the global economy.
A tweet previously embedded here has been deleted or was tweeted from an account that has been suspended or deleted.
The big picture: The Trump administration and the Chinese government agreed last week to restart trade negotiations in Washington, D.C., in early October. China's economy czar, Vice Premier Liu He, is due to attend the talks.
- Hours before Trump's tweets, China announced it would exempt 16 types of exported U.S. goods from import tariffs, effective Sept. 17 through Sept. 16, 2020.
A tweet previously embedded here has been deleted or was tweeted from an account that has been suspended or deleted.
The state of play:
- On Sept. 1, the U.S. imposed a 15% tariff on $112 billion worth of Chinese goods. China retaliated by resuming 25% tariffs on American cars and adding 5–10% tariffs on $75 billion worth of goods.
- On Oct. 1, Trump was due to increase existing tariffs on $250 billion worth of Chinese goods from 25% to 30%. But this has now been delayed by 2 weeks, according to Trump's tweets Tuesday evening.
- On Dec. 15, the U.S. was set to hit another batch of $160 billion of Chinese imports with 15% tariffs, originally delayed to reduce the impact on Christmas shoppers. China vowed to retaliate with its second batch of tariffs on $75 billion of American goods.
Go deeper:
Editor's note: This article has been updated with new details throughout.