News

Trump delays tariffs on key Chinese goods

The White House trade office announced Tuesday it would delay tariffs on certain Chinese goods until mid-December and exempt others from a new round of import taxes.

The Office of the U.S. Trade Representative (USTR) said in a statement it would delay tariffs on “cell phones, laptop computers, video game consoles, certain toys, computer monitors, and certain items of footwear and clothing,” until Dec. 15.

Newsletter sign up

The agency also said it would remove an unspecified number of items from a list of Chinese products that will be subject to a 10 percent tariff starting Sept. 1.

“Certain products are being removed from the tariff list based on health, safety, national security and other factors and will not face additional tariffs,” the USTR said.

The full list of exempted products will be released later Tuesday, the office added.

The White House decision to narrow the scope and somewhat weaken the blow of President Trump’s escalating trade war with China comes after weeks of deepening anxiety about the state of the global economy.

Economists at Bank of America, Goldman Sachs and Moody’s Analytics have warned in the past week of the rising chances of a recession between now and the 2020 elections, blaming Trump’s trade policy in part.

The British economy shrank for the first time since 2012 in the second quarter, according to data released last week, while growth in China slowed to its lowest level in nearly three decades.

Read More

Are you enjoying the article? Join our community for even more!

 

Click Here

Related posts

Brexit: EU points finger at UK for Theresa May’s deal defeat

Camila Coutinho

Trump calls India’s tariff hike ‘unacceptable,’ demands its withdrawal

Camila Coutinho

Irish Brexit border issue could endanger EU-U.S. trade deal: congressman

Camila Coutinho

Leave a Comment