Brief respite in US-China trade war; Fed rate cut not likely in upcoming FOMC meeting

SINGAPORE (Sept 13): US President Donald Trump says he will delay increasing tariffs on US$250 billion ($344 billion) worth of Chinese goods from the initially intended date of Oct 1 to Oct 15, “as a gesture of goodwill”. Taking to Twitter on Sept 11, Trump said the postponement was done “at the request of the Vice-Premier of China, Liu He, and due to the fact that the People’s Republic of China will be celebrating their 70th Anniversary on Oct 1”.