News

Trump administration delays some new tariffs

The U.S. Trade Representative says there will be some exceptions to the list of Chinese products facing a 10% tariff beginning September 1^st.

Robert 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 17^th 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 weeks.

It 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.