The United States Commerce Agency said that on Tuesday certain articles were removed from the new China Customs List for reasons of "health, safety, security, national security and other factors", while tariffs for other articles were canceled by 15 April December would be postponed.
Products in the group for which fees are being delayed include "cell phones, laptops, video game consoles, certain toys, computer monitors, and certain footwear and clothing," according to the USTR.
Last month, President Donald Trump announced a new 1
The new pay bargain was specifically aimed at retailers, so news that certain shoe and clothing tariffs are late has put pressure on some of the major retailers that have suffered in recent weeks. Nike, Kohl's, Nordstrom and other retailers all traded higher.
Delays in technological core elements such as mobile phones and laptops also relieve the burden of technology stocks and distributors of technological elements. Apple shares were nearly 5% higher on the news and Best Buy rose more than 8%.
The USTR did not specify which items should be removed from the list, but added that "an exclusion procedure should be applied for products subject to an additional duty" telephone conversation with US sales representative Robert Lightizer and US Treasury Secretary Steven Mnuchin. China agreed to another call in two weeks.
The next trade talks should take place in September, after the tariffs were introduced.
Markets rebounded on new fare news. The Dow Jones Industrial Average rose by 500 points, the S & P 500 by 1.5% and the Nasdaq by 1.9%.
Uncertainty over the trade war weighed on markets, causing stocks to have their worst day of the year on August 5, as China weakened its currency, passing the $ 7 yuan threshold and declaring that Imports would be stopped by agricultural commodities from the US
Here is the full explanation of the USTR:
The USTR announces the next steps for a proposed 10 percent duty on imports from China
Washington , DC – The US Trade Representative (USTR) announced today the next steps to introduce an additional 10 percent duty on Chinese imports worth approximately $ 300 billion.
On May 17, 2019, the USTR published a list of products imported from China, possibly subject to an additional 10 percent tariff. This new tariff will come into force on 1 September, as announced by President Trump on 1 August.
Certain products are removed from the tariff list, based on health, safety, national security and other factors, and no additional duties of 10 are levied
Furthermore, in the context of the public statement and consultation of the USTR, it was determined that the Tariff for certain articles should be postponed to the 15th of December. The products of this group include, for example, mobile phones, laptops, video game consoles, certain toys, computer monitors, as well as certain footwear and clothing.
USTR intends to proceed with an exclusion procedure for products subject to additional duty
The USTR will today publish on its website and as soon as possible additional details and lists of tariff items affected by this announcement in the Federal Register.
Correction: In an earlier version of the story, cell phones were incorrectly specified were removed from the list. They are part of the delay.