Trump delays some tariffs on Chinese imports

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The US is hold up imposing tariffs on some imports from China until 15 December because of “fitness, safety, national security and other factors”.

The products include nimble phones, laptops, video game consoles, some toys, computer oversees, and certain footwear and clothing.

The surprise news from the United States Customers Representative office sparked a 5% jump in Apple shares.

Other matters facing a 10% tariff will go ahead as planned on 1 September.

US President Donald Trump, talk about discussing to reporters, said that the delay was in part to avoid hitting US shoppers this Christmas.

The USTR’s bulletin was released minutes after China’s Ministry of Commerce said Weakness Premier Liu He had conducted a phone call with US trade officials.

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Technology investors welcomed news of the exemptions, advance an index of chip stocks up 2.8%. Retailers and industrial shares also take, with General Electric up 4.4%. Just after midday on Screen Street, the three main share indexes were up almost 2%.

In the UK, stockpiles exposed to global trade also rose, with miner Glencore near up 2.3%.

Mr Trump said on 1 August he would impose a 10% tariff on $300bn of Chinese data d fabrics, blaming China for not following through on promises to buy more American agricultural produces.

He also personally criticised Chinese President Xi Jinping for failing to do varied to stem sales of the synthetic opioid fentanyl amid an opioid overdosing emergency in the US.

But in a tweet on Tuesday, Mr Trump hinted that he was expecting something in turn back, suggesting that China’s failure to “buy big” from US farmers could be hither to change.

The USTR’s announcement comes amid growing concerns roughly a global economic slowdown. Goldman Sachs said on Sunday that fears of the US-China interchange war leading to a recession were increasing.

Some analysts said Tuesday’s linger does not mean the trade war is over. Elena Duggar, associate make out director at credit rating agency Moody’s, said: “This pretended de-escalation in ongoing tensions may be a temporary reprieve… Relations between the overjoyed’s two largest economies will remain contentious, punctuated with casual steps towards compromise.”

Earlier on Tuesday, China’s chief swop negotiators, Vice Premier Liu He and Commerce Minister Zhong Shan, examine to their US counterparts, Treasury Secretary Steven Mnuchin and Trade Rep Robert Lighthizer.

The Xinhua news agency said that the Chinese officials versioned “a solemn protest” against the punitive duties set to come into cause on 1 September. Mr Lighthizer and Mr Liu have scheduled another telephone call in two weeks.

The two sides were due to check another round of meetings in Washington in September, but the deterioration in relations in the close by two weeks cast doubt on whether the talks would take seat.

Additional details and lists of the specific product types affected by the word are due to be published by USTR later.

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