Trade Conflict: Some US tariffs on China come later
A phone call between China's leadership and the US Trade Representative has brought some relaxation in the trade dispute. For certain products, tariffs will rise later.
The US government will delay the introduction of recently announced tariffs on imports from China for some product groups. The originally planned for September tariff rate of ten percent for mobile phones, laptops, monitors, certain toys and some shoes and clothing will apply from 15 December, said the office of the US Trade Representative Robert Lightizer.
In addition, certain products important for health or national security would be permanently excluded, it said. A list of exempted products should be published shortly. First, it therefore remained unclear which part of the imports would be spared from the punitive tariffs.
On the stock market, the news gave the prices a boost. In New York, for example, Apple shares gained more than four percent. The Dow Jones Index gained 1.5 percent.
So far, the US and China have wanted to hold talks on a trade agreement in September. The Chinese Ministry of Commerce has now announced on its website that Chinese Vice Premier Liu He has been in talks with US Trade Representative Robert Lighthizer and Finance Minister Steven Mnuchin. According to China and the United States already want to conduct telephone trading calls in two weeks.
The previous round of talks between the two states in July had come to an end without a concrete result. Donald Trump's government then imposed the new tariffs.