President Donald Trump gave another indication this week that he could extend the deadline for reaching a trade deal with China beyond March 1, a move that would likely keep U.S. import tariffs on $200 billion in Chinese goods from escalating from 10% to 25%.

Trump on the March 1 deadline for China talks: "I can't tell you exactly the timing. The date is not a magical date. A lot of things can happen. ... I can only say that the talks with China on trade have gone very, very well." pic.twitter.com/QngACMPu3l

— Megan Cassella (@mmcassella) February 19, 2019

Trump said Tuesday that there is “not a magical date” for reaching a trade deal with China. The remarks follow comments Trump made last week in which he said he could be willing to let the March deadline “slide for a little while” if China and the U.S. are close to making a deal.

The U.S. ad specialty industry imports the majority of products sold stateside from China. Tariffs have the potential to drive-up product prices, while spawning an array of other business headaches for promo pros, as Counselor has documented. A stay on the tariff increase – or better, abolishment of the tariffs altogether – would be welcomed by most in the promotional products market.

Still, it remains to be seen if there is leeway with the March deadline. U.S. Trade Representative Robert Lighthizer has previously said the deadline is firm.

Amb. Lightizer to reporters on 1/31 about the possibility of an extension: "None at all, as far as I'm concerned... my deadline is March 1."

Pres. Trump, yesterday: March 1 "is not a magical date."

— Kayla Tausche (@kaylatausche) February 20, 2019

Negotiators for the world’s two largest national economies are meeting this week. The talks follow last week’s discussions in Beijing, during which some progress was made, according to the U.S. camp. "They are very complex talks. They're going very well," Trump said.

In the weeks ahead, Trump and his advisors could meet with Chinese President Xi Jinping in an effort to nail down a final trade deal that’s palatable to both sides, various media outlets have reported.

In all, the Trump administration has imposed tariffs on $250 billion in Chinese goods. China has responded with counter tariffs on at least $60 billon in U.S. imports. Trump initially aimed to escalate the 10% levy on $200 billion in China-made products to 25% on January 1, but he said late last year that progress in trade talks made it reasonable to extend the rate acceleration date to March.