Tariffs Delayed For Some Chinese Imports

Tariffs Delayed For Some Chinese Imports

Tariffs Delayed For Some Chinese Imports

The United States is delaying until Dec 15 imposition of new 10 per cent tariffs on Chinese electronics, including laptops and cell phones, but going ahead with new duties starting Sept 1 on US$300 billion (S$415 billion) in Chinese goods, the Office of the US Trade Representative (USTR) said on Tuesday (Aug 13).

The USTR said it was postponing the long-threatened tariffs due to "health, safety, and national security, and other factors". However, for some of that gear, the tariff hike will be delayed to December 15, according to the United States Trade Representative a few hours ago. Even better for Beijing: Trump's statement is a clear admission that American consumers, retailers, and wholesalers are paying his tariffs, not China. Companies including VF Corp., Shoe Carnival Inc. and Wolverine World Wide Inc. rallied against a tax that they said could hurt businesses, families and the overall USA economy.

USTR is still moving forward with tariffs on September 1 on many products such as live animals, dairy products, skis, golf balls, contact lenses, motorcycle engines, lithium ion batteries, snowblowers and various types of steel.

None of this means Trump will necessarily push for a trade deal ASAP (though he was given a vivid reminder of just how much Wall Street would love a speedy resolution when stocks jumped on the news of the partial tariff delay).

America's number-one sneaker retailer jumps into the subscription business
Nike says that the Adventure Club includes shoe sizes from 4C to 7Y, which is "roughly from age 2 to 10". Nike said it will either donate or recycle returned sneakers depending on their condition.

On Sunday, economists at Goldman Sachs downgraded their economic forecasts, citing the impending tariffs on consumer goods. Foreman said he is considering layoffs this fall to offset his higher costs and noted that despite Trump's reprieve, tariffs remain a severe threat. Trump said last month that he would end preferential trade treatment for India, which would result in U.S. tariffs on up to $5.6 billion of imports from India. He reiterated the group's opposition to using tariffs as a tactic to change China's approach.

Yields on the benchmark US 10-year Treasury notes hit session highs, while those on 30-year Treasury bonds rallied from more than three-year lows. In exchange, perhaps the United States would lift some sanctions on the Chinese telecommunications giant Huawei, which the US sees as a national security risk.

May 17, 2019 is the deadline for President Trump to decide on imposing tariffs on vehicle imports from the EU. Those imports are mostly finished consumer products, so shoppers would be more likely to notice higher prices reflecting the added tariff, which is a tax.

"I was not sure whether or not they wanted to wait until a Democrat had a chance to get in". "It's not so easy to penalize China or disengage".

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