US President Donald Trump will delay a planned tariff hike on $250bn (£202.8bn) of Chinese goods as a “gesture of good will”.

In a tweet, Mr Trump said a 5% increase to duties scheduled for 1 October will be postponed for two weeks.

He said the delay had been requested by China, and also follows a move by Beijing to scrap some US tariffs.

It comes as the two sides prepare to hold fresh talks aimed at resolving their long-running trade dispute.

Last month, the US said it would increase the tariff rates on all Chinese goods, which included raising a 25% tax on $250bn of Chinese imports to 30%.

On Wednesday, Mr Trump said China’s Vice Premier Liu He had asked him to postpone the upcoming tariff increase from 1 October as the date coincided with the anniversary of the People’s Republic of China.

Donald J. Trump
@realDonaldTrump
….on October 1st, we have agreed, as a gesture of good will, to move the increased Tariffs on 250 Billion Dollars worth of goods (25% to 30%), from October 1st to October 15th.
11:17 PM · Sep 11, 2019Twitter for iPhone
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