U.S. President Donald Trump speaks on U.S. and China trade negotiations at the Governors' Ball, in the State Dining Room of the White House, in Washington, U.S., February 24, 2019. Image Credit: Reuters

Washington: The United States is delaying a planned increase of tariffs on more than $200 billion (Dh734.5 billion) in Chinese exports after “substantial progress” made in trade talks, President Donald Trump said Sunday.

“I am pleased to report that the U.S. has made substantial progress in our trade talks with China on important structural issues including intellectual property protection, technology transfer, agriculture, services, currency, and many other issues,” Trump wrote on Twitter.

“As a result of these very productive talks, I will be delaying the US increase in tariffs now scheduled for March 1. Assuming both sides make additional progress, we will be planning a Summit for President Xi and myself, at Mar-a-Lago, to conclude an agreement. A very good weekend for U.S. & China!”