U.S. President Donald Trump is welcoming China's suspension of tariff hikes on the United States.
"They have just suspended U.S. Tariff Hikes. U.S. is doing very well. China wants to make a big and very comprehensive deal. It could happen, and rather soon!" Trump said on Twitter Friday.
China just announced that their economy is growing much slower than anticipated because of our Trade War with them. They have just suspended U.S. Tariff Hikes. U.S. is doing very well. China wants to make a big and very comprehensive deal. It could happen, and rather soon!— Donald J. Trump (@realDonaldTrump) December 14, 2018
China says beginning January 1, it will suspend raising tariffs for 90 days on $126 billion in U.S.-made cars, trucks and auto parts.
The leaders of the two world powers, Presidents Xi Jinping and Donald Trump, agreed earlier this month to call a truce on their trade dispute.
China’s export growth slowed in November as global demand weakened, adding to pressure on Beijing ahead of trade talks with Washington.
Exports rose 5.4 percent from a year ago to $227.4 billion, a marked decline from the previous month’s 12.6 percent increase, customs data showed Saturday.
"Suspension of the tariffs is a concrete measure to implement the consensus reached by the two heads of state," the Tariff Commission Office of China's State Council said in a statement.
Trump had already agreed to suspend planned U.S. tariff increases on Chinese goods while the countries negotiate.
Confusion and anxiety about the tariff plans have roiled stock markets.