Trump caves on Chinese tariff increase for the second month in a row

U.S. President Donald Trump said on Sunday that he would delay an increase in tariffs on Chinese goods that had been scheduled for Friday, citing “substantial progress” in U.S.-China trade talks over the weekend.

Trump said he would plan a summit meeting with Chinese President Xi Jinping at his Mar-a-Lago estate in Florida to conclude an agreement, assuming both sides make additional progress.

Reporting by David Lawder; Editing by Peter Cooney