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 announcement moved the stock market sharply higher. The Dow Jones industrial average climbed more than 400 points, or 1.6 percent, on the news.
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 USTRβs βpublic comment and hearing process.β A number of companies had petitioned to the White House to exempt items they import from the new tariffs, saying the costs would be either passed along to the consumer or threaten the solvency of individual firms.
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 βbased on health, safety, national security and other factors.β
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.
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