Tariffs Delayed For Some Chinese Imports

Tariffs Delayed For Some Chinese Imports

But in a tweet on Tuesday, Mr Trump hinted that he was expecting something in return, suggesting that China's failure to "buy big" from U.S. farmers could be about to change.

The news sent the Dow Jones Industrial Average up more than 460 points in midmorning trading.

USTR says tariffs on some Chinese products will be delayed until December 15. "Maybe this will be different!" the president wrote.

The U.S. Trade Representative's Office will publish additional details and lists of the specific product types impacted by the announcement. However, the United States Trade Representative (USTR) said Tuesday that some electronic devices made in China are getting a delay and other items have been removed from the tariff lists altogether.

The 21-page-list of products that won't get hit with tariffs until December includes baby monitors and strollers, microwaves, instant print cameras, doorbells, high chairs, musical instruments, ketchup dispensers, baby diapers, fireworks, sleeping bags, nativity scenes, fishing reels, paint rollers and food products. And it's removing other items from the list based "on health, safety, national security and other factors".

Most of the levies are scheduled to kick in on 1 September.

Wall Street's main indexes had initially opened lower, adding to a global slide in stocks due to geopolitical concerns, with a Labor Department report also showing the core consumer price index rose 2.2 per cent in the 12 months through July. Previous tariffs were very targeted on some sectors, but the latest tariff move would have hiked prices on a wide variety of cheap consumer goods that US shoppers buy from China en masse.

Remember when trade wars were "good and easy to win"? These products accounted for a combined $98 billion of Chinese imports in 2018, according to a Reuters analysis of U.S. Census bureau data.

The USTR office plans to conduct an exclusion process for products subject to the additional tariff.



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