US President Donald Trump said on Monday that he would postpone a 200-billion-dollar increase in duties on Chinese goods.
"I am pleased to announce that the United States has made significant progress in the negotiations on trade with China ... As a result of these fruitful negotiations, I will postpone the increase in fees that was due to come into effect on March 1," Trump said via Twitter.
Trump said he planned to meet Chinese President Xi Jinping in Florida to complete the deal.
"If we assume that the two sides will move forward (in the negotiations), we will plan to hold a summit at the presidential level, I and Xi Jin in Marlago, to reach an agreement," Trump said.
Trump announced on the 12th of this month that it would be possible to delay the deadline for a trade agreement with China on March 1 "for a short time" but would prefer not to do so.
The United States has announced earlier that it will raise tariffs on goods imported from China worth 200 billion dollars by 25 percent, compared to 10 percent currently, if no agreement is reached by March 1, the US demands of China imposed restrictions on the transfer of technology and the better application of intellectual property rights.