Formalizing a plan the U.S. President announced last week, the U.S. Trade Representative’s office published a statement in the Federal Register stating it was “postponing the date on which the rate of the additional duties will increase to 25 percent for the products of China covered by the September 2018 Action in this investigation," Bloomberg reported.

The new tariffs had been set to take effect March 1, but now the rate will stay at 10 percent, according to the statement.