Trump mulling 60-day delay for China tariff deadline

President TrumpDonald John TrumpRosenstein expected to leave DOJ next month: reports Allies wary of Shanahan's assurances with looming presence of Trump States file lawsuit seeking to block Trump's national emergency declaration 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 Terner MnuchinWhite House confirms new trade talks with China Hillicon Valley: Facebook weighs crackdown on anti-vaccine content | Lyft challenges Trump fuel standards rollback | Illinois tries to woo Amazon | New round of China trade talks next week On The Money: Trump declares emergency at border | Braces for legal fight | Move divides GOP | Trump signs border deal to avoid shutdown | Winners, losers from spending fight | US, China trade talks to resume next week MORE and U.S. Trade Representative Robert LighthizerRobert (Bob) Emmet LighthizerTrump says no discussion of extending deadline in Chinese trade talks McConnell urges GOP senators to call Trump about tariffs Companies brace for trade war 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.