President Trump announced that he would delay a scheduled tariff hike on $200 billion of Chinese goods in a series of Sunday tweets, citing "substantial progress" in an ongoing round of U.S.-China trade talks and hinting at an upcoming Mar-a-Lago summit with Chinese President Xi Jinping.
"I am pleased to report that the U.S. has made substantial progress in our trade talks with China on important structural issues including intellectual property protection, technology transfer, agriculture, services, currency, and many other issues. As a result of these very productive talks, I will be delaying the U.S. increase in tariffs now scheduled for March 1. Assuming both sides make additional progress, we will be planning a Summit for President Xi and myself, at Mar-a-Lago, to conclude an agreement. A very good weekend for U.S. & China!"