Trump administration delays some new tariffs
U.S. Trade Representative says there will be some exceptions to the list of
Chinese products facing a 10% tariff beginning September 1st.
Lighthizer’s office says they will conduct an exclusion process for cell
phones, laptop computers, video game consoles, certain toys, monitors, and some
footwear and clothing items from the May 17th published list of
products. The USTR says tariffs on these
items will be delayed until December 15th for health, safety, national
security, and other reasons.
President Trump ordered the additional tariffs
on 300-billion dollars-worth of Chinese imports earlier this month. Trump told reporters again Tuesday China
would really like to make a deal, and he delayed these tariffs because of what
he called, “a very good call with China.”
Media reports say the U.S. and China will talk about trade again in two
is unclear if the exceptions will prompt China to change their retaliatory
actions or purchasing plans.
The new exceptions to the tariffs sparked a rally in the stock market, led by Apple and several retailers.