The Latest: US delays tariffs on some Chinese goods
WASHINGTON (AP) — The Latest on the shifting trade relations between the U.S. and China (all times local):
The United States is delaying tariffs on Chinese-made cellphones, laptop computers and other items and removing other Chinese imports from its target list altogether, triggering a rally in beleaguered U.S. markets.
The U.S. Trade Representative said Tuesday 10% tariffs on about $300 billion in Chinese imports will go forward, but tariffs on some goods will be delayed until Dec. 15. Those items include cellphones, laptop computers, video game consoles, some toys, computer monitors, shoes and clothing.
Major U.S. markets jumped more than a percent on the news. The Dow, S&P 500 and Nasdaq are all down between 3% and 4% in the past month.