Stocks rally on China-U.S. trade hopes
The Trump administration on Tuesday said it would delay 10-per-cent tariffs on some popular Chinese imports such as cellphones, computer laptops, certain toys and clothing items.
The U.S. Trade Representative’s office said the some of the levies announced Aug. 1 would be delayed until Dec. 15 following a USTR public comment and hearing process.
The announcement – which sent shares of some makers of the items such as Apple Inc., Hasbro Inc. and Gap Inc. higher – came as the Chinese Commerce Ministry said officials from both sides spoke on the phone and agreed to talk again within two weeks.
While some of the spared Chinese imports seem logical considering the back-to-school and holiday shopping seasons, there are other more obscure products that will see some reprieve until mid-December as well. Here are some of them.
-Essential oils of eucalyptus
-Pocket‐size radio cassette players
-Turntables without automatic record-changing mechanism
-Telephone answering machines