The Trump administration delays a portion of planned China tariffs until December

donald trumpPresident Donald Trump talks to reporters on the South Lawn of the White House, Friday, Aug. 9, 2019, in Washington, as he prepares to leave Washington for his annual August holiday at his New Jersey golf club.Associated Press/Evan Vucci

  • The Trump administration announced Tuesday it would exempt certain Chinese imports from additional tariffs set to take effect in September, and that others would be delayed until the end of the year.
  • "Certain products are being removed from the tariff list based on health, safety, national security and other factors and will not face additional tariffs of 10 percent," the US Trade Representative said in a statement.
  • Tariffs on certain products - including cell phones, laptops, video game consoles, toys, computer monitors and select footwear and clothing items - will be delayed until December 15.
  • Visit Markets Insider for more stories.

The Trump administration announced Tuesday it would exempt certain Chinese imports from additional tariffs set to take effect in September and that others would be delayed until the end of the year.

"Certain products are being removed from the tariff list based on health, safety, national security and other factors and will not face additional tariffs of 10 percent," the US Trade Representative said in a statement.

Tariffs on certain products - including cell phones, laptops, video game consoles, toys, computer monitors and select footwear and clothing items - will be delayed until December 15.

The move was a result "of USTR's public comment and hearing process," the statement said. Hundreds of companies testified against the escalating trade war with China this June, with many warning that planned tariff escalations would raise costs at home and hurt American jobs.

Marking a significant escalation, President Donald Trump said this month he would extend tariffs to all remaining imports from China in September. China vowed to take countermeasures against any escalations, with those threats growing louder last week.

The US Treasury Department designated China as a currency manipulator for the first time since 1994 last Monday after the nation allowed the yuan to weaken past a critical level against the dollar. China said it would halt agricultural purchases to retaliate.

Separately on Tuesday, China's Commerce Ministry said Trade Representative Robert Lighthizer and Treasury Secretary Steven Mnuchin had spoken with Vice Premier Liu He by phone. The White House and the USTR did not immediately respond to emails seeking comment.

But the prospect of an imminent deal has dimmed in recent weeks. Trump said Friday the US would cut ties with Huawei, a reversal on the Chinese telecommunications and smartphone giant that has become a bargaining chip in trade negotiations.

Trump lashed out at China for its weakening currency hours before the USTR announcement Tuesday. He also touted on Monday a $28 billion bailout program for farmers, who lost one of their biggest customers as a result of the tariff dispute.

"Through massive devaluation of their currency and pumping vast sums of money into their system, the tens of billions of dollars that the U.S. is receiving is a gift from China," the president wrote on Twitter. "Prices not up, no inflation. Farmers getting more than China would be spending. Fake News won't report!"

This story is developing. Please check back for updates.

Markets Insider is looking for a panel of millennial investors. If you're active in the markets, CLICK HERE to sign up.

{{}}
Add Comment()
Comments ()
X
Sort By:
Be the first one to comment.
We have sent you a verification email. This comment will be published once verification is done.