Trump puts additional tariffs on hold after meeting with Xi

By Steve Frothingham

OSAKA, Japan (BRAIN) — President Donald Trump, at the G20 summit in Japan Saturday, said he would hold off imposing additional tariffs on $300 billion worth of Chinese imports, a list that included those bicycle products that were not included in earlier tariff rounds, which remain in place.

Representatives from the bike industry testified against the tariffs at a hearing in Washington earlier this month. They would have hit products including bike lights and helmets, which were excluded from a previous round of tariffs on safety grounds. Balance bikes and some parts and accessories that were excluded from earlier lists also would have been included.

Trump said he and Chinese President Xi Jinping had agreed to a truce of sorts, which included a Chinese agreement to buy more U.S. agricultural products. He said all earlier tariffs remain in place.

More: See our updated explainer on the Trump tariffs: How we got here.

I had a great meeting with President Xi of China yesterday, far better than expected. I agreed not to increase the already existing Tariffs that we charge China while we continue to negotiate. China has agreed that, during the negotiation, …read more

Via:: Bicycle Retailer and Industry News