Trump delays some tariffs on Chinese imports
Addis Ababa, August 13, 2019 (FBC) – The US is delaying imposing tariffs on some imports from China until 15 December because of “health, safety, national security and other factors”.
The products include mobile phones, laptops, video game consoles, some toys, computer monitors, and certain footwear and clothing.
The surprise news from the United States Trade Representative office sparked a 5% jump in Apple shares.
Other items facing a 10% tariff will go ahead as planned on 1 September.
The USTR’s announcement was released minutes after China’s Ministry of Commerce said Vice Premier Liu He had conducted a phone call with US trade officials.
Technology investors welcomed news of the exemptions, pushing an index of chip stocks up 2.8%, according to BBC.