Trump extends China trade truce

Bloomberg

President Donald Trump said he’ll extend a deadline to raise tariffs on Chinese goods beyond this week, citing “substantial progress” in the latest round of talks that wrapped up in Washington.
“The US 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,” Trump said in a Twitter posting. “As a result of these very productive talks, I will be delaying the US increase in tariffs now scheduled for March 1.”
If the sides make further headway in negotiations, Trump said he and China’s President Xi Jinping planned to meet at his Mar-a-Lago resort in Florida to conclude an agreement, though he didn’t offer any details on when the meeting might be or how long he expects the tariff extension to last.
China’s official Xinhua News Agency echoed Trump’s tweet, citing “substantial” progress. But a commentary published later cautioned that the talks may face “new uncertainties,” noting that bilateral trade frictions are “long-term, complicated and arduous.”
US stock futures climbed in Asian trading on Monday, Chinese shares surged 5.6 percent and the offshore yuan strengthened on the back of optimism for a deal.