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Trump mulling 60-day delay for China tariff deadline

President TrumpDonald TrumpSenators given no timeline on removal of National Guard, Capitol fence Democratic fury with GOP explodes in House Georgia secretary of state withholds support for 'reactionary' GOP voting bills MORE is reportedly mulling a 60-day extension for the deadline to impose higher tariffs on Chinese imports, Bloomberg News reported Wednesday.

Sources familiar with the matter told Bloomberg that Trump said he was considering pushing back the March 1 deadline for raising tariffs on $200 billion worth of Chinese imports if the two countries could negotiate a deal over changes to China's economic policies.

The Hill has reached out to the White House for comment. 

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The development comes one day after Trump said he was open to extending trade talks with the country, signaling the two sides are getting closer to settling long-standing trade disputes.

China is set to see tariffs more than double on $200 billion of its goods if Beijing and Washington do not reach an agreement by the March 1 deadline.

Treasury Secretary Steven MnuchinSteven MnuchinOn The Money: Schumer urges Democrats to stick together on .9T bill | Collins rules out GOP support for Biden relief plan | Powell fights inflation fears Mnuchin expected to launch investment fund seeking backing from Persian Gulf region: report Larry Kudlow debuts to big ratings on Fox Business Network MORE and U.S. Trade Representative Robert LighthizerBob LighthizerWhiskey, workers and friends caught in the trade dispute crossfire GOP senator warns quick vote on new NAFTA would be 'huge mistake' Pelosi casts doubt on USMCA deal in 2019 MORE are currently in Beijing continuing trade negotiations with Chinese officials.

Trump said this week he and Chinese President Xi Jinping would need to meet in person before signing an agreement that would put an end to the ongoing trade war.