White House delays some new China tariffs until Dec. 15
Source: Washington Post
The White House on Tuesday said it would delay imposing tariffs on Chinese imports of cellphones, laptop computers, video game consoles, and certain types of footwear and clothing until Dec. 15, significantly later than the Sept. 1 deadline President Trump had repeatedly threatened. The announcement, which came from the Office of the U.S. Trade Representative, likely ensures that Apple products and other major consumer goods would be shielded from the import tax until at least December, potentially keeping costs on these products down during the holiday shopping season.
The White House did not give a full explanation as to why these items were being exempted, only saying in a short statement that it was part of USTR’s “public comment and hearing process.” USTR said the 10 percent tariff would still go into effect in September on some items, which it did not immediately identify. But it said tariffs on other items would be waived completely “based on health, safety, national security and other factors.” USTR said it would be providing a list of products that were exempted and would face the delayed tariff implementation date.
The announcement is the latest in a herky-jerky trade war between the White House and China. Trump has levied tariffs on $250 billion in Chinese imports, beginning last year, as he has tried to pressure Chinese leaders to change their trade practices. Chinese officials have negotiated but refused to agree to the terms Trump has demanded, leading to a prolonged standoff. Trump has frequently threatened dramatic penalties, however, only to back away. His threat of imposing a 10 percent tariff on an additional $300 billion in Chinese imports starting next month spooked investors and many lawmakers, and it has led to a steady slide in the stock market in the past two weeks.
Many businesses had worried that higher tariffs on consumer goods ahead of the Christmas shopping season could severely damage the economy at a time when some are warning that the risk of a recession next year has increased.
Read more: https://www.washingtonpost.com/business/economy/white-house-delays-some-new-china-tariffs-until-dec-15/2019/08/13/be21e812-bdd1-11e9-b873-63ace636af08_story.html
Original article and headline -
By Washington Post Staff
August 13 at 10:05 AM
The White House’s top trade official announced Tuesday the administration would delay new tariffs on a large number of Chinese imports until Dec. 15 instead of the beginning of September, pushing back large penalties on numerous consumer goods that include cellphones and footwear.
This is a developing story. It will be updated.
https://www.washingtonpost.com/news/business/wp/2019/08/13/white-house-delays-some-new-china-tariffs-until-dec-15-reflecting-concerns-of-trade-wars-effect-on-the-economy/
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