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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.

Go deeper

Scoop: Border officials project 13,000 child migrants in May

The "El Chaparral" border crossing at Tijuana. Photo: Stringer/Picture Alliance via Getty Images

A Customs and Border Protection staffer told top administration officials Thursday the agency is projecting a peak of 13,000 unaccompanied children crossing the border in May, sources directly familiar with the discussion told Axios.

Why it matters: That projection would exceed the height of the 2019 crisis, which led to the infamous "kids-in-cages" disaster. It also underscores a rapidly escalating crisis for the Biden administration.

4 hours ago - World

U.S. strikes Iran-backed militia facilities in Syria

President Biden at the Pentagon on Feb. 10. Photo: Alex Brandon - Pool/Getty Images

The United States on Thursday carried out an airstrike against facilities in Syria linked to an Iran-backed militia group, the Pentagon announced.

The state of play: The strike, approved by President Biden, comes "in response to recent attacks against American and Coalition personnel in Iraq, and to ongoing threats to those personnel," Pentagon press secretary John Kirby said in a statement.

Senate parliamentarian rules $15 minimum wage cannot be included in relief package

Photo: Al Drago/Getty Images

The Senate parliamentarian ruled Thursday that the provision to increase the minimum wage to $15/hour cannot be included in the broader $1.9 trillion COVID relief package.

Why it matters: It's now very likely that any increase in the minimum wage will need bipartisan support, as the provision cannot be passed with the simple Senate majority that Democrats are aiming to use for President Biden's rescue bill.

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