Some very important news today from the United States Trade Representative (USTR). Approximately 20 percent of the items set to be hit with a 10 percent tariff on September 1 had their tariff date pushed back to December 1, this morning, per the following announcement 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.

The USTR then almost immediately came out with two new tariff lists. One, called List 4A, is a 121 page lists of products that will be subject to a 10 percent tariff on September 1, as originally planned. The other, called List 4B, is a 21 page list of products that were to be subject to a 10 percent tariff on September 1 but will instead not be subject to that tariff until December 15.

Cellphones, laptop computers, video game consoles, certain toys, computer monitors and some shoes and clothing make up the bulk of the list of items on which tariffs have been delayed. This delay is believed to have been instituted to avoid higher prices on items often bought by back-to-school and holiday shoppers. </s> WASHINGTON, D.C. – The United States Trade Representative (USTR) on Tuesday 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, 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 and in the Federal Register as soon as possible, additional details and lists of the tariff lines affected by this announcement. </s> WASHINGTON (UrduPoint News / Sputnik - 13th August, 2019) The United States will postpone the decision to implement an additional 10 percent tariffs on some Chinese imports until December 15, the US Trade Representative announced in a statement on Tuesday.

"[A]s part of USTR's public comment and hearing process, it was determined that the tariff should be delayed to December 15 for certain articles," the statement said. "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."

The US Trade Representative said that the 10 percent tariff on $300 billion worth of Chinese imports previously announced by by President Donald Trump will go into effect on September 1 as scheduled. </s> Washington — The Trump administration on Tuesday delayed imposing a 10% import tariff on laptops, cellphones, 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.

The US trade representative’s office action was published just minutes after China’s ministry of commerce said vice-premier Liu He conducted a phone call with US trade officials.

The delay in the tariffs that had been scheduled to start in September provides some relief to retailers. Though most US stores would have stocked their holiday merchandise before the earlier September deadline, some might have faced the tariffs for fill-in orders late in the holiday shopping season.

The decision came less than two weeks after President Donald Trump said on August 1 he would impose a 10% tariff on $300bn of Chinese goods, blaming China for not following through on promises to buy more American agricultural products.

The administration is still moving forward with 10% tariffs on much of the $300bn list first disclosed in May, publishing a 122-page list of products that will face tariffs beginning September 1, including smartwatches.

Since Trump’s August 1 tweets threatening the new tariffs, the US benchmark S&P stock index has dropped more than 4%. On Tuesday, technology investors welcomed news of the exemptions, pushing an index of chip stocks up 3.1%, while shares of Apple surged more than 5% and the Dow Jones Industrial Average rose more than 500 points.

The exemptions, combined with renewed talks with China, suggest Trump may be willing to compromise.

In a sign the administration may be expecting something in return, Trump tweeted on Tuesday: “As usual, China said they were going to be buying ‘big’ from our great American Farmers.

“So far they have not done what they said. Maybe this will be different!” Trump tweeted.

Other products that will have tariffs delayed until December 15 include “computers, video-game consoles, certain toys, computer monitors, and certain items of footwear and clothing”, the US trade representative’s office said in a statement.

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 December 15 is welcomed news as it will mitigate some pain for consumers through the holiday season”.

The 21-page-list of products that will not be affected by the tariffs until December includes baby monitors and prams, microwaves, instant-print cameras, doorbells, high chairs, musical instruments, tomato-sauce dispensers, baby nappies, fireworks, sleeping bags, nativity scenes, fishing reels, paint rollers and food products.

The trade representative’s office is still moving forward with tariffs on September 1 on many products such as live animals, dairy products, skis, golf balls, contact lenses, motorcycle engines, lithium ion batteries, snowblowers and various types of steel.

A separate group of products will also be exempt altogether, “based on health, safety, national security and other factors”, it added. </s> US to delay imposing tariffs on some products from China

Washington, Aug 13 (EFE).- The US government said Tuesday it would hold off on imposing 10 percent tariffs on certain products imported from China until December.

“It was determined that the tariff should be delayed to December 15 for certain articles,” the United States Trade Representative (USTR) said in a statement.

The tariffs were originally scheduled to take effect on Sept. 1.

The USTR also said that some products would no longer be subjected to tariffs.

“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,” the USTR said.

Some products, however, will still be subject to the higher tariffs starting on Sept. 1, but the USTR did not identify them.

The USTR posted lists on its website on Tuesday of products subject to tariffs effective Sept. 1 and Dec. 15.

The USTR said it “will publish in the Federal Register as soon as possible additional details and lists of the tariff lines affected by this announcement.”

In late July, a team led by US Trade Representative Robert Lighthizer and Treasury Secretary Steven Mnuchin negotiated in Shanghai with a high-level Chinese delegation headed by Vice Premier Liu He.

On Aug. 1, President Donald Trump announced a new set of tariffs on goods from China effective Sept. 1 after the latest round of trade talks with the Asian nation failed to yield a deal.

“Our representatives have just returned from China where they had constructive talks having to do with a future Trade Deal. We thought we had a deal with China three months ago, but sadly, China decided to re-negotiate the deal prior to signing,” Trump said on Twitter.

On Aug. 6, China responded to Trump’s tariff announcement, saying that state-owned companies had halted purchases of agricultural goods from the United States.

The Commerce Ministry said in a statement that Washington’s decision to slap additional tariffs on Chinese products effective Sept. 1 was a “grave violation” of agreements reached by Trump and his Chinese counterpart, Xi Jinping, at their June 29 meeting on the sidelines of the G20 summit in Osaka, Japan.

The ministry said it would not rule out tariffs on newly purchased agricultural goods after Aug. 3.

The world’s two largest economic powers have been engaged in a trade war for more than 18 months, leveling allegations at each other and slapping tariffs on imports.

In May, Trump increased from 10 percent to 25 percent a tariff on Chinese imports worth $200 billion. China retaliated by slapping tariffs on US imports worth $60 billion.

Trump later threatened to impose tariffs of up to 25 percent on another $325 billion of Chinese imports, causing concern in financial markets and the business community due to the possible effect on consumer spending, which accounts for about two-thirds of US economic activity.

In Osaka, Trump and Xi agreed to a truce in the trade war, which is rooted in Washington’s unhappiness over China’s massive trade surpluses with the United States.

In 2018, the United States posted a trade deficit of $419 billion with China due, largely, to the fact that US exports to Asia’s largest economy totaled just $120 billion, while American imports from China reached $540 billion.

During the first five months of 2019, the US trade deficit with China was $137 billion.

In recent days, Trump has expressed unhappiness with the Chinese government’s decision to devalue the yuan, pushing the currency’s exchange rate against the dollar to a key level not seen since 2008. EFE </s> WASHINGTON (UrduPoint News / Sputnik - 24th August, 2019) The United States will increase tariffs by another five percent on $550 billion worth of Chinese goods that are already being taxed in response to Beijing's new retaliatory measures, US President Donald Trump said in a statement.

"Starting on October 1st, the 250 billion Dollars of goods and products from China, currently being taxed at 25 percent will be taxed at 30 percent," Trump said via Twitter on Friday.

The US president also said the tariff on the remaining $300 billion worth of Chinese goods and services that will go into effect on September 1 will now increase from 10 percent to 15 percent.

Earlier on Friday, the Chinese State Council said tariffs ranging from 5 to 10 percent would be applied to $75 billion worth of US goods, with some taking effect on September 1 and others on December 15.

The latter batch will also include a 25 percent duty on American cars.

The US Trade Representative's office in a statement said it will begin implementing the tariffs effective October 1 after a notice and comment period. The remainder will go into effect on the already scheduled dates

For the 10% tariffs on approximately $300 billion worth of Chinese imports that the President announced earlier this month, the tariffs will now be 15%, effective on the already scheduled dates for tariff increases on these imports.

China's newly announced tariffs on Friday are in response to Trump's announcement earlier this month of the initial 10 percent tariffs on $300 billion in Chinese goods, although some items have since been removed from the list and others delayed until after the holiday shopping season. </s> WASHINGTON (Reuters) - U.S. President Donald Trump on Tuesday backed off his Sept. 1 deadline for 10% tariffs on remaining Chinese imports, delaying duties on cellphones, laptops and other consumer goods, in the hopes of blunting their impact on U.S. holiday sales.

The delay which, affects about half of the $300 billion target list of Chinese goods - along with news of renewed trade discussions between U.S. and Chinese officials - sent stocks sharply higher and drew cautious relief from retailers and technology groups.

Trump’s 10% tariffs will be effective from Dec. 15 for thousands of products including clothing and footwear, possibly buttressing the holiday selling season from some of the fallout from the protracted trade spat between the world’s two largest economies.

“We’re doing this for Christmas season, just in case some of the tariffs would have an impact on U.S. customers,” Trump told reporters in New Jersey. “Just in case they might have an impact on people, what we’ve done is we’ve delayed it so that they won’t be relevant to the Christmas shopping season.”

The U.S. Trade Representative’s Office announced the decision just minutes after China’s Ministry of Commerce said Vice Premier Liu He conducted a phone call with U.S. trade officials.

Liu agreed with U.S. Trade Representative Robert Lighthizer and Treasury Secretary Steven Mnuchin to speak again by phone within the next two weeks, the ministry said.

Trump has said the two sides may still meet in early September as scheduled.

APPLE SHINES

The delay in tariffs on a substantial portion of a $300 billion list of remaining Chinese imports sent U.S. stocks surging, after steep losses in the past week, with the Standard & Poor's 500 .SPX up 1.5% and the Nasdaq Composite .IXIC gaining nearly 2%.

Shares of market bellwether Apple Inc (AAPL.O) soared 4.2% on news that its core iPhone, tablet and laptop computer products would be spared from tariffs for the time being.

But the Trump administration still plans to impose 10% tariffs on thousands of Chinese food, clothing and other consumer electronics products beginning Sept. 1.

Among these are Chinese-made smartwatches from Apple and Fitbit (FIT.N), smart speakers from Amazon.com Inc AMZN., Google (GOOGL.O) and Apple, and Bluetooth headphones and other devices, a category estimated at $17.9 billion last year by the Consumer Technology Association.

Flat screen televisions from China, a category worth $4.5 billion, also will face 10% tariffs on Sept. 1 after being spared from Trump’s first round of tariffs more than a year ago.

Live animals, dairy products, skis, golf balls, contact lenses, lithium ion batteries and snowblowers will also get tariffs on Sept. 1

A trade group representative said USTR informed them that it opted to delay tariffs on items where China supplies more than 75 percent of total U.S. imports. Product categories where China supplies less than 75 percent will still face tariffs on Sept. 1, the representative said, speaking on condition of anonymity because the information was not publicly released.

According to U.S. Census data, China supplied 82 percent of U.S. cell phones and 94.5 percent of U.S. laptops in 2018.

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

Based on a Reuters analysis, the delay could extend to around half of the $300 billion list of remaining Chinese imports. Chinese imports subject to the tariffs on Dec. 15 totaled about $156 billion last year, according U.S. Census bureau data.

While most retailers would have stocked their holiday merchandise before the September deadline, some might have faced the tariffs for fill-in orders late in the holiday shopping season.

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.”

The Consumer Technology Association applauded the delay on some items, but added: “Next month, we’ll begin to pay more for some of our favorite tech devices – including TVs, smart speakers and desktop computers. The administration should permanently remove these harmful tariffs and find another way to hold China accountable for its unfair trading practices.”

The 21-page-list of products that will not get hit with tariffs until December also includes baby monitors and strollers, microwaves, instant print cameras, doorbells, high chairs, musical instruments, ketchup dispensers, baby diapers, fireworks, sleeping bags, nativity scenes, fishing reels, paint rollers and food products.

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.

Trump announced the Sept. 1 tariffs less than two weeks ago, blaming China for not following through on promises to buy more American agricultural products during talks in Shanghai at the end of July. That move was met with a drop in China’s yuan currency a few days later, prompting the Trump administration to declare Beijing a currency manipulator and sending markets tumbling for several days last week.

Since Trump’s Aug. 1 tweets announcing the new tariffs, the U.S. benchmark S&P; stock index has dropped more than 4%.

The tariff delay, combined with renewed talks with China, suggest Trump may be willing to compromise.

FILE PHOTO: Chinese staffers adjust U.S. and Chinese flags before the opening session of trade negotiations between U.S. and Chinese trade representatives at the Diaoyutai State Guesthouse in Beijing, Thursday, Feb. 14, 2019. Mark Schiefelbein/Pool via REUTERS

In a sign the administration may be expecting something in return, Trump tweeted on Tuesday: “As usual, China said they were going to be buying ‘big’ from our great American Farmers. So far they have not done what they said. Maybe this will be different!” Trump tweeted.

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.

Trump has also personally criticized Chinese President Xi Jinping for failing to do more to stem sales of the synthetic opioid fentanyl amid an opioid overdosing crisis in the United States.

The USTR office plans to conduct an exclusion process that could allow more items to be removed from the 10% tariff list. </s> The US-China trade war ratcheted up yet again on Friday, with Beijing unveiling a new round of retaliatory tariffs on about $75 billion worth of US goods.

China will place tariffs of 5% or 10% on US imports starting on September 1st, according to a statement posted by China’s Finance Ministry.

The Ministry also announced plans to resume tariffs on US imports of automobiles and automobile parts. The tariffs would be 25% or 5%, and would take effect on December 15th. The new tariffs will target 5,078 products, including soybeans, coffee, whiskey, seafood and crude oil.

Last week, China said it would take countermeasures after the United States announced it would impose 10% tariffs on Chinese imports worth $300 billion.

The United States postponed the implementation of about half of those tariffs, which will cover several categories of Chinese-made consumer goods, until December. They had been due to take effect in September.

China’s announcement sparked an angry response from US President Donald Trump on Twitter. Trump said he will be responding to China “this afternoon.”

“We don’t need China and, frankly, would be far better off without them,” Trump wrote. He also “ordered” American companies “to immediately start looking for an alternative to China.”

US markets, which had struggled for direction earlier in the day, dropped on the comments. The Dow was down as much as 400 points, or 1.6%, in late morning trading.

The US Trade Representative’s office did not immediately comment on China’s tariffs announcement.

The move comes amid indications the ongoing trade war is having an impact on the world’s two largest economies. Industrial production in China — an important indicator for the country’s economy — grew just 4.8% in July compared to a year earlier, according to China’s National Bureau of Statistics. That’s the worst growth for that sector in 17 years.

American factories are also contracting for the first time in a decade and red lights are flashing in the bond market, where the yield curve has inverted. Such inversions, where the 10-year Treasury yield dips below the two-year Treasury rate, are historic predictors of a coming recession.

The US Chamber of Commerce, which represents the interests of more than 3 million businesses, called on China and the United States to “get back to the table” to discuss issues important to both sides, including intellectual property and market access.

“Today’s Chinese retaliation is unfortunate, but not unexpected. The fact of the matter is that nobody wins a trade war, and the continued tit-for-tat escalation between the U.S. and China is putting significant strain on the U.S. economy, raising costs, undermining investment, and roiling markets,” the statement said. </s> US President Donald Trump says he has "hereby ordered" American companies with operations in China to "immediately" start looking for an alternative after Beijing announced a series of retaliatory tariffs.

But as markets in the US, Asia and Europe tumbled, the White House offered no further details or explanation of Trump's intentions.

Instead, the president tweeted he would be responding to China's tariffs on Friday afternoon.

"This is a GREAT opportunity for the United States," he wrote.

The US has said it plans to impose 10 per cent tariffs on $US300 billion ($A444 billion) of Chinese goods in two steps, on September 1 and December 15.

China responded on Friday with new tariffs on $US75 billion ($A111 billion) of US products in retaliation, deepening a conflict over trade and technology that threatens to tip a weakening global economy into recession.

China also will increase import duties on US-made autos and auto parts, the Finance Ministry announced.

Tariffs of 10 per cent and 5 per cent will take effect on two batches of goods on September 1 and December 15, the ministry said in a statement.

It gave no details of what goods would be affected but the timing matches Trump's planned duty hikes.

The announcement comes as leaders of the Group of 7 major economies prepare to meet in France this weekend.

Washington is pressing Beijing to narrow its trade surplus and roll back plans for government-led creation of global competitors in robotics, electric cars and other technology industries.

"Our great American companies are hereby ordered to immediately start looking for an alternative to China, including bringing ... your companies HOME and making your products in the USA. I will be responding to China's Tariffs this afternoon," Trump tweeted on Friday.

The White House did not immediately respond to questions about what authority the president has to order private companies to change their business practices. </s> President Donald Trump slapped back at Beijing, tweeting that new U.S. tariffs, slated to go into effect Sept. 1, would be at a rate of 15%, up from the planned 10%.

The news followed Beijing’s announcement earlier Friday that it will place tariffs on $75 billion of U.S. imports, and it amounts to yet another escalation in the U.S. trade war with China. Just hours earlier, the president said U.S. companies were “hereby ordered” to find alternatives to making and procuring goods in China.

The Dow Jones Industrial Average closed down more than 620 points, or about 2.4%, on Friday. The S&P 500 and the Nasdaq Composite fell sharply as well.

It’s getting hard to keep track of the tariff salvos crossing the Pacific.

The U.S. has tariffs on about $250 billion of Chinese goods, in place since 2018. The tariff rate was 10% and was slated to go to 25% this past Jan. 1, a decision that was delayed by Trump as a sign of good faith in negotiations. Rates went up in May, however, because progress was slow.

The Office of the United States Trade Representative said Friday that tariff rate will now go to 30%, effective Oct. 1.

The president announced 10% tariffs on an additional $300 billon more Chinese imports via Twitter this month, but the U.S. later delayed putting those levies in place until September. Tariffs on some products, such as Apple (ticker: AAPL) iPhones, were delayed until the holiday shopping season, minimizing the impact on U.S. consumers.

The tariff rate on items not listed for holiday delays, most of the additional $300 billion in goods, will be at 15% on Sept. 1. That means that the vast majority of imports from China will be taxed at rates between 15% and 30%.

The trade war is heating up and all signs point to more volatility on Monday.
The United States Trade Representative announces a delay until December 15 on a significant number of products affected by 10% import tariffs announced on August 1 and set to be imposed in September.