President Donald Trump may extend the tariff truce with China by another 60 days if a trade deal appears near, Bloomberg News reported Wednesday night. Trump has threatened to raise tariffs on more than $200 billion in Chinese goods from 10% to 25% starting March 2 if a trade deal is not reached, but has expressed openness in recent days to extending that deadline if talks with China go well. Bloomberg reported Trump is considering whether to push that deadline back 60 days so negotiations can continue. Earlier Wednesday, Trump told reporters trade talks have been “going along very well.” Treasury Secretary Steve Mnuchin and U.S. Trade Representative Robert Lighthizer kicked off a new round of negotiations with Chinese officials Thursday in Beijing.
Have breaking news sent to your inbox. Subscribe to MarketWatch’s free Bulletin emails. Sign up here.