AUGUST 13, 2019
The United States Trade Representative office said Tuesday certain items were being removed from the new China tariff list because of “health, safety, national security and other factors” while tariffs on other items would be delayed until December 15.
CEO of Apple Tim Cook attends China Development Forum 2019 at the Diaoyutai State Guesthouse on March 23, 2019 in Beijing, China.
The products in the group that will have tariffs delayed include “cell phones, laptop computers, video game consoles, certain toys, computer monitors, and certain items of footwear and clothing,” the USTR said.
Apple shares traded higher on the news.
The USTR added that it will conduct an “exclusion process for products subject to additional tariff.”
Separately, China’s Commerce Ministry said Vice Premier Liu had a phone call with U.S. Trade Representative Robert Lightizer and U.S. Treasury Secretary Steven Mnuchin. China said they agreed to another call in two weeks.
Here’s the full statement from the USTR:
USTR Announces Next Steps on Proposed 10 Percent Tariff on Imports from China
Washington, DC – The United States Trade Representative (USTR) today announced the next steps in the process of imposing an additional tariff of 10 percent on approximately $300 billion of Chinese imports.
On May 17, 2019, USTR published a list of products imported from China that would be potentially subject to an additional 10 percent tariff. This new tariff will go into effect on September 1 as announced by President Trump on August 1.
Certain products are being removed from the tariff list based on health, safety, national security and other factors and will not face additional tariffs of 10 percent.
Further, as part of USTR’s public comment and hearing process, it was determined that the tariff should be delayed to December 15 for certain articles. 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.
USTR intends to conduct an exclusion process for products subject to the additional tariff.
The USTR will publish on its website today, and in the Federal Register as soon as possible, additional details and lists of the tariff lines affected by this announcement.
Courtesy/Source: CNBC
