US lawmakers, industry fret over Trump's China trade deal eagerness

Share via E-Mail Bookmark WASHINGTON: President Donald Trump's decision to delay a steep tariff hike on Chinese goods as he touted progress in weekend trade talks was greeted with a mixture of relief and dread among US industry groups and lawmakers on Monday .

World shares breathe easy as Trump pushes out tariff deadline Tariffs on US$200 billion worth of Chinese imports had been set to rise to a prohibitive 25 per cent from the current 10 per cent if no deal was reached by Friday. "Glad 2 hear that Pres Trump won't be increasing tariffs on China March 1 but I hope Lighthizer/Trump won’t take a half deal as a good deal," tweeted Senator Chuck Grassley, the Republican chairman of the trade and tax-focused Senate Finance Committee.

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