Trump delayed a 10% import tariff on laptops, cell phones, video game consoles and a wide range of other products made in China. Here's StephenNellis on why the news boosted Apple shares. Read more: $AAPL
U.S. President Donald Trump on Tuesday backed off his Sept. 1 deadline for 10% t...
Live animals, dairy products, skis, golf balls, contact lenses, lithium ion batteries and snowblowers will also get tariffs on Sept. 1
FILE PHOTO: U.S. President Donald Trump meets with China's President Xi Jinping at the start of their bilateral meeting at the G20 leaders summit in Osaka, Japan, June 29, 2019. REUTERS/Kevin Lamarque/File Photo
Still, the Retail Industry Leaders Association said “removing some products from the list and delaying additional 10% tariffs on other products, such as toys, consumer electronics, apparel and footwear, until Dec. 15 is welcome news as it will mitigate some pain for consumers through the holiday season.”
A separate group of products will be removed from the tariff list altogether, the USTR said, “based on health, safety, national security and other factors.” It did not immediately identify these items.
The tariff delay, combined with renewed talks with China, suggest Trump may be willing to compromise.
Trump’s tariff delay comes amid growing concerns about a global economic slowdown. Goldman Sachs said on Sunday fears of the U.S.-China trade war leading to a recession were increasing and Goldman no longer expects a trade deal between the two countries before the 2020 U.S. presidential election.
Reporting by David Shepardson, David Lawder, Makini Brice and Susan Heavey in Washington; additional reporting by Jeff Mason in Morristown, New Jersey; Writing by David Lawder; editing by Tim Ahmann, Marguerita Choy and Cynthia OstermanRead more: Reuters Top News
StephenNellis Serious question: Do other members of the Trump family know what he is going to say on China and other financial topics before he says it? What Trump says moves markets. NYAG should investigate, just to keep people honest. StephenNellis When you charge $800 per unit Apple, why is it so hard to imagine opening assembly facilities on US shores? And maybe recycled plastic parts tooled & printed here? You could meet your US sales needs right from these shores.
StephenNellis the wise range of other products must include Ivanka Trump’s last import shipment for the year. StephenNellis This is excellent. I’d rather have an American brand succeed than a foreign brand. StephenNellis Trump is a con man. He just bluffs and the world knows it. StephenNellis When would something akin to this be considered a form of market manipulation? How many times does the market bounce around on specific tweet announcements purely judged by that comment? When does timing of tweet correlate between announcing news and a form of trade manipulation?
StephenNellis Trump Wins Tariff Oscar *The Gold Milk?* award goes to President Trump for his unprecedented performance as a celebrity manipulating global tariffs. The award was named in honor of one of the hardest hit groups from the ill-considered tariff wars, the U.S. dairy farmers.
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