Tariffs Delayed For Some Chinese Imports

Tariffs Delayed For Some Chinese Imports

It will remove other items from the list based "on health, safety, national security and other factors". "Products in this group include, for example, cell phones, laptop computers, video game consoles, certain toys, computer monitors, and certain items of footwear and clothing". Shares of Apple, Mattel and shoe brand Steve Madden shot up. The Office of the U.S. Trade Representative says the rest of the tariffs on Chinese imports scheduled to kick in on September 1 will continue.

The move comes after a phone call between US Trade Representative Robert Lighthizer, Treasury Secretary Steven Mnuchin and top Chinese negotiator Liu He in which the parties agreed to pick up negotiations by phone within two weeks, according to a statement from the Chinese Commerce Ministry.

Investors welcomed news of the tariff delay. Wall Street's three main share indexes rose more than 1.5%.

"As usual, China said they were going to be buying "big" from our great American Farmers".

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The Office of the U.S. Trade Representative said Tuesday that it is still planning to go ahead with 10% tariffs on about $300 billion in Chinese imports, extending the import taxes on just about everything China ships to the United States in a dispute over Beijing's aggressive trade policies.

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

The Xinhua news agency said that the Chinese officials issued "a solemn protest" against the punitive duties set to come into effect on 1 September.

The USTR plans to publish a full list of the products later Tuesday.

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