- Mahindra & Mahindra stock hits 52-week high as brokerages bullish on counter post Scorpio-N launch; check target prices
- GST Council meet begins today: Know agendas of Finance Minister Nirmala Sitharaman's led two-day meeting
- Security deposit on commercial LPG connection goes up by Rs 1050 for 19-kg cylinder; check new rates
- Cash-starved Sri Lanka to end fuel duopoly to ease fuel shortages
- Xiaomi 12S series set to launch with Leica cameras on July 4: Check key details here
USTR to suspend China tariff hike 'until further notice'
The U.S. Trade Representative`s office said on Wednesday it would move to formally suspend a scheduled tariff increase on Chinese goods "until further notice" following President Donald Trump`s decision to delay his Friday deadline for a U.S.-China trade deal amid progress in their talks.
The statement was issued after U.S. Trade Representative Robert Lighthizer`s testimony to the U.S. House Ways and Means Committee, in which he said USTR was following a legal process to implement the delay.
"In accordance with the president’s direction, the Office of the United States Trade Representative will publish a notice in the Federal Register this week to suspend the scheduled tariff increase until further notice," USTR said in an emailed statement.
(This article has not been edited by Zeebiz editorial team and is auto-generated from an agency feed.)
Get Latest Business News, Stock Market Updates and Videos; Check your tax outgo through Income Tax Calculator and save money through our Personal Finance coverage. Check Business Breaking News Live on Zee Business Twitter and Facebook. Subscribe on YouTube.