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Smartphones, laptops, and game consoles delayed from China tariff list

US President Donald Trump and Chinese President Xi Jinping attending a bilateral meeting on the sidelines of the G20 Summit in Osaka Smartphones, laptops, and game consoles delayed from China tariff list
Bennie Garza | 13 August, 2019, 21:44

Earlier on Tuesday, China's chief trade negotiators, Vice Premier Liu He and Commerce Minister Zhong Shan, spoke to their U.S. counterparts, Treasury Secretary Steven Mnuchin and Trade Representative Robert Lighthizer.

Investors welcomed news of the tariff delay.

The Office of the U.S. Trade Representative announced on Tuesday that 10% tariffs on Chinese imports set to take effect on cellphones, laptop computers, video game consoles, certain toys, computer monitors and some shoes and clothing will now be postponed until December 15. Furthermore, other goods are being excluded from the tariff list entirely due to "health, safety, national security and other factors". It's expected that the increased tariffs will impact around $300 billion worth of imports from China.

The exemptions, combined with renewed talks with China, suggest Trump may be willing to compromise.

"As usual, China said they were going to be buying "big" from our great American Farmers. Maybe this will be different!" the president wrote.

However, the United States Trade Representative (USTR) said Tuesday that some electronic devices made in China are getting a delay and other items have been removed from the tariff lists altogether.

The USTR's announcement comes amid growing concerns about a global economic slowdown.

Remember when trade wars were "good and easy to win"? Goldman Sachs said on Sunday fears of the U.S.

Of the items being delayed from the tariffs, these include "cell phones, laptop computers, video game consoles, certain toys, computer monitors, and certain items of footwear and clothing".

Trump has also personally criticized Chinese President Xi Jinping for failing to do more to stem sales of the synthetic opioid fentanyl amid an opioid overdosing crisis in the United States.

"Trade talks are continuing, and during the talks the US will start, on September 1st, putting a small additional tariff of 10% on the remaining 300 billion dollars of products coming from China into our country", he tweeted at the time.

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