US says it will delay tariffs amid the holiday gift buying season on some Chinese products, such as cell phones, laptop computers, video game consoles, certain toys, computer monitors, footwear and clothing, until Dec. 15.
The United States Trade Representative office said Tuesday that certain items were being removed from the new China tariff list because of “health, safety, national security and other factors,” while tariffs on other items would be delayed until Dec. 15.
Apple shares traded higher on the news, and stocks surged, with the Dow Jones Industrial Average rising by 500 points in midmorning trading. The USTR added that it will conduct an “exclusion process for products subject to additional tariff.” On May 17, 2019, USTR published a list of products imported from China that would be potentially subject to an additional 10 percent tariff. This new tariff will go into effect on September 1 as announced by President Trump on August 1.
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