USA to delay China tariffs on some products, including laptops, cell phones
13 August, 2019, 19:33 | Author: Regina Silva
USA stocks surged nearly 2% on Tuesday as the Trump administration said it would delay 10% tariffs on some Chinese products, including laptops and cell phones, driving a 5% surge in shares in iPhone maker Apple Inc.
The Trump administration on Tuesday delayed imposing a 10% import tariff on laptops, cell phones, video game consoles and a wide range of other products made in China, in an abrupt pull-back from a hardline stance on Chinese trade.
USA trade tariffs against Beijing will moderately slow Chinese economic growth this year, the International Monetary Fund (IMF) said in a news report earlier in August. Those items will be subjected to the tariffs starting December 15.
"We're doing this for the Christmas season", Trump stated. Farmers getting more than China would be spending.
Apple Inc. shares spiked on Tuesday after the US delayed a 10% tariff on certain Chinese imports, including such technology products as cell phones and laptop computers. Beijing also halted USA agricultural purchases, inflaming a trade war that has roiled financial markets, disrupted supply chains and slowed global growth.
A 4.8% jump in Apple shares and a rise in chip stocks pushed the technology sector, traditionally among the most sensitive to trade issues, 2.33% higher.
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And, a year after the announcement, the Chinese smartphone maker is not too far from launching its first commercial smart TV. The brand is expected to launch its televisions in at least four sizes - 43-inches, 55-inches, 65-inches, and 75-inches.
Best Buy Co Inc., the technology retailer, surged 8.3% following the news of the delay.
But the agency says it would delay the tariffs to December 15 on some goods, including cellphones, laptop computers, video game consoles, some toys, computer monitors, shoes and clothing.
While trade talks between the U.S. and Chinese delegations are continuing, the two sides have failed to hammer out a deal that can put an end to the year-long trade row.
The administration also announced that certain products will be permanently removed from the tariff target list for reasons of health, safety and national security.
Investors are taking the move as a sign of optimism for negotiations, but there may be far more cynical factors at play.
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Meridian is arm's-length to the Company and this loan represented the Company's only secured indebtedness. CannTrust said it was notified on Friday, and has accepted the Canadian health regulator's findings.
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He played doubles in several tournaments, including Wimbledon with Serena Williams and the Citi Open with brother Jamie . Murray said he taken inspiration from doubles player Bob Bryan, who made a successful return from hip surgery.
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Video after the shooting showed bullet holes in the front windows of two patrol cars and large holes blown in their back windows. A fourth officer responded and killed the driver during the shootout. "It was a long and horrific gun battle", the chief said.
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The Brexit crisis and the uncertain global outlook left the nation's economy on a "knife-edge" for the third quarter, he added. The data, which was worse than market expectations for zero growth, sent the pound sliding against the euro and dollar.
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