The Financial Times report a US trade official as saying Trump's promised higher tariffs on $200bn of Chinese goods would not apply to goods that are already in transit.

  • They will only hit goods that depart from China starting on Friday.

In effect, say the FT:

  • The clarification from the Trump administration on Wednesday offers US and Chinese negotiators a window of two to four extra weeks to reach a deal before the bulk of the pain from the higher tariffs directly hits US consumers and businesses, based on shipping times between the countries.

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More time for talks! Awesome! (Will the sage ever end??? Trade deal of Brexit first, the question remains)