Trump confirms the tariff hike in the US-China trade dispute will be delayed

Joe Raedle/Getty Images

US President Donald Trump is sounding increasingly confident that a trade deal between the US and China will be reached, confirming that he will delay the proposed increase in tariffs on Chinese imports entering the country that was scheduled for March 1.

Here are two tweets Trump sent just moments ago.

The US had previously planned to lift tariffs on $US250 billion worth of Chinese imports per annum to 25% on March 1.

Give recent progress on talks, that date has now been pushed back indefinitely ahead of a proposed summit between Trump and Chinese President Xi Jinping that will likely be held next month.

While the tweets from Trump confirm what many had been expecting given recent reports, markets have understandably reacted positively to the news.

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