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Economy· Macro

U.S. delays tariffs on Christmas goods from China

CKN
minutes 2019/08/14 09:31:00
1,586
tariff; consumer goods

Aug 14, 2019 (China Knowledge) - The Office of the U.S. Trade Representative announced yesterday that the U.S. will postpone imposing an additional 10% tariff on key Chinese goods including smartphones, laptops and toys until Dec. 15.

President Donald Trump indicated to reporters later the day that the move is intended to minimize the effect on American consumers during the critical Christmas shopping season.

The delay is a big relief to American consumers and China-based supply chains considering roughly 40% of those targeted are consumer goods. It also gives the U.S. and China more room for negotiations.

Meanwhile, the U.S. Trade Representative said game consoles, computer monitors and certain shoes and clothing will also be granted a delay in tariffs. Besides, it removed health- and security-related products from its proposed tariff list on Chinese products announced in mid-May.

China's Ministry of Commerce said that Vice Premier Liu He spoke with U.S. Trade Representative Robert Lighthizer and U.S. Treasury Secretary Steven Mnuchin on the phone yesterday. Liu expressed his strong opposition to the new tariffs, and the two sides agreed to have another telephone conversation within the next two weeks.

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