Trump delays some China tariffs until DecemberChristian Fernsby ▼ | August 13, 2019
Some of the 10% tariffs U.S. President Donald Trump said would be imposed on $300 billion worth of Chinese goods will be delayed until Dec. 15, the U.S. Trade Representative announced Tuesday.
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Topics: Donald Trump China sanctions tariffs
Other items, however, will continue to face the 10% tariff Trump vowed in early August. It is not clear how much of the original $300 billion worth of Chinese imports would continue to be affected.
Certain unspecified items are bring removed from the tariffs list altogether "based on health, safety, national security and other factors and will not face additional tariffs of 10 percent," the trade representative said.
The Dow jumped nearly 400 points in mid-morning trading following the announcement as the Nasdaq hiked nearly 200 points.
The ongoing trade war between the world's top two has sent shockwaves through global markets.
The tariffs that are set to go into effect next month and then in December are on top of some $250 billion worth of Chinese imports Trump already put a 25% rate on. ■