Economy

US Delays Additional China Tariffs On Smartphones, Laptops And Monitors

US Delays Additional China Tariffs On Smartphones, Laptops And Monitors

It cited health and security factors.

The administration is still moving forward with 10 per cent tariffs on much of the US$300 billion list first disclosed in May, publishing a 122-page list of products that will face tariffs beginning on Sept 1, including smartwatches, live animals, dairy products, skis, golf balls, contact lenses, motorcycle engines, lithium ion batteries, and various types of steel.

But the US Trade Representative's office says it'll conduct an "exclusion process" to determine whether certain imports should be pulled from the tariff list. According to the statement, tariff exemptions will include a variety of consumer electronics such as laptop computers, monitors and game consoles as well as footwear and clothing items.

President Trump has since commented that his decision to delay tariffs ahead of the Christmas season would "help a lot of people", referring to its potentially damaging effect on holiday sales of tech products.

If video game console prices end up increasing due to the proposed tariffs, console manufacturers might have to take production outside of China to ensure consumers aren't negatively impacted.

The Trump administration announced a delay in planned new tariffs on Chinese goods Tuesday, pushing back imposition of the additional taxes in order to give USA businesses more time to stock up for back-to-school and holiday shopping seasons, according to The New York Times. "Still, continued uncertainty for USA businesses and consumers is a drag on the economy", said David French, senior vice president for government relations for the National Retail Federation. While to the north, Canada on July 1 imposed tariffs on $12.6 billion worth of USA goods, including steel, aluminum, coffee, ketchup and bourbon whiskey in retaliation for United States tariffs on Canadian steel and aluminum.

The announcement came minutes after China's ministry of commerce said that the vice-premier Liu He had held a phone call with United States trade officials.

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Rick Helfenbein, president and CEO of the American Apparel & Footwear Association, called the tariffs - even with a delay - "a destructive plan".

In earlier rounds of tariffs, Trump eventually slapped 25% duties on about $250 billion of imports from China, but many of those goods were machinery and industrial parts used for production.

Trump has now partially reversed himself on the 10% tariff, without any corresponding concession from China.

Financial markets around the world have rallied amid cooling tensions in the US-China trade war.

"As usual, China said they were going to be buying "big" from our great American Farmers", President Trump wrote. So far they have not done what they said. "Maybe this will be different!", Trump tweeted.

Over the past year of the U.S.