At China's request, President Trump said Wednesday that the increase in tariffs on $250 billion in Chinese exports will be moved from Oct. 1 to Oct. 15. Trump said the request was made "due to the fact that the People's Republic of China will be celebrating their 70th Anniversary" on Oct. 1. The increase will raise the tariffs from 25% to 30%, the Washington Post reports. The president called the postponement a "gesture of good will" in his tweet.
With trade talks between the two nations—scheduled for next month—nearing, China exempted 16 US products from tariffs for a year earlier Wednesday. Tariffs on such agricultural products as soybeans and corn, which are hitting American farmers hard, remain in place, per the Hill. More exemptions will be announced soon, the Ministry of Finance said. "China wants to claim the moral high ground before the October talks and to send a message of goodwill," a Beijing professor said. (Read more trade war stories.)