Trump Holds Off On Increasing Tariffs On Chinese Goods

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Trump Holds Off On Increasing Tariffs On Chinese Goods
President Donald Trump said he won't increase tariffs on $200 billion worth of Chinese goods after "productive" trade talks.
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President Donald Trump is suspending raising tariffs on billions of dollars worth of Chinese goods after "very productive" trade talks between the two countries over the weekend.  

On March 1, tariffs on $200 billion worth of Chinese goods were supposed to increase from 10 percent to 25 percent. 

In a tweet on Sunday, the commander-in-chief said "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." 

President Trump also said "assuming both sides make additional progress," he would plan a summit with Chinese President Xi Jinping at Mar-a-Lago to solidify the agreement.

Trade talks between the U.S. and China were originally supposed to wrap up on Friday but were extended amid reported progress. 

The president didn't immediately provide the new deadline for U.S.-China trade talks. 

Additional reporting from Newsy affiliate CNN.