Trump mulling 60-day delay for China tariff deadline

President TrumpDonald John TrumpHouse Dems demand Barr cancel 'inappropriate' press conference on Mueller report DOJ plans to release 'lightly redacted' version of Mueller report Thursday: WaPo Nadler accuses Barr of 'unprecedented steps' to 'spin' Mueller report 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 MnuchinOn The Money: Cain 'very committed' to Fed bid despite opposition | Pelosi warns no US-UK trade deal if Brexit harms Irish peace | Ivanka Trump says she turned down World Bank job Treasury targets Venezuelan central bank with sanctions Mnuchin plans to hire ex-Fox News contributor Monica Crowley: report MORE and U.S. Trade Representative Robert LighthizerRobert (Bob) Emmet LighthizerChinese, US negotiators fine-tuning details of trade agreement: report The Trump economy keeps roaring ahead Trump says no discussion of extending deadline in Chinese trade talks 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.