President Donald Trump says he will delay a planned US increase in tariffs scheduled for March 1 following trade talks with Chinese representatives in the past few days he's described as very productive.
"I am pleased to report that the US has made substantial progress in our trade talks with China on important structural issues including intellectual property protection, technology transfer, agriculture, services, currency, and many other issues," Trump tweeted.
"As a result of these very productive talks, I will be delaying the US increase in tariffs now scheduled for March 1," he added.
"Assuming both sides make additional progress, we will be planning a Summit for President Xi and myself, at Mar-a-Lago, to conclude an agreement. A very good weekend for U.S. & China!"
The US and Chinese delegations have been meeting for trade talks for six days straight. The negotiations came ahead of a deadline this week.
The Chinese side heads back to Beijing on Monday and Trump goes to Vietnam for a two-day summit with North Korean leader Kim Jong Un.
On Friday (March 1), the US was set to increase tariffs on some $US200 billion ($A280 billion) worth of Chinese goods from 10 per cent to 25 per cent, following increases last year and concerns over a trade war.
Trump and President Xi Jinping reached a ceasefire in December, agreeing to put further tariffs on hold as the sides tried to negotiate for 90 days.
Trump had earlier said he might consider extending the deadline if talks are progressing.
