WASHINGTON, Aug 15 (NNN-AGENCIES) — The US is delaying imposing tariffs on some imports from China until Dec 15 because of “health, safety, national security and other factors”.
The products include mobile phones, laptops, video game consoles, some toys, computer monitors, and certain footwear and clothing.
The surprise news from the United States Trade Representative office sparked a rally in share prices.
Other items facing a 10% tariff will go ahead as planned on Sept 1.
US President Donald Trump, speaking to reporters, said that the delay was in part to avoid hitting US shoppers this Christmas.
The USTR’s announcement was released minutes after China’s Ministry of Commerce said Vice Premier Liu He had conducted a phone call with US trade officials.
Trump said on Aug 1 he would impose a 10% tariff on $300bn of Chinese goods, blaming China for not following through on promises to buy more American agricultural products.
In a tweet on Tuesday, Trump hinted that he was expecting something in return, suggesting that China’s failure to “buy big” from US farmers could be about to change.
The USTR’s announcement comes amid growing concerns about a global economic slowdown. Goldman Sachs said on Sunday that fears of the US-China trade war leading to a recession were increasing.
Earlier on Tuesday, China’s chief trade negotiators, Vice Premier Liu He and Commerce Minister Zhong Shan, spoke to their US counterparts, Treasury Secretary Steven Mnuchin and Trade Representative Robert Lighthizer.
The Xinhua news agency said that the Chinese officials issued “a solemn protest” against the punitive duties set to come into effect on Sept 1. Lighthizer and Liu have scheduled another telephone call in two weeks.
The two sides were due to hold another round of meetings in Washington in September, but the deterioration in relations in the past two weeks cast doubt on whether the talks would take place. — NNN-AGENCIES
