{"id":129401,"date":"2019-08-14T02:00:16","date_gmt":"2019-08-14T02:00:16","guid":{"rendered":"https:\/\/www.bnreport.com\/us-pulls-back-from-applying-fresh-tariffs-to-chinese-tech-goods\/"},"modified":"2019-08-14T02:00:16","modified_gmt":"2019-08-14T02:00:16","slug":"us-pulls-back-from-applying-fresh-tariffs-to-chinese-tech-goods","status":"publish","type":"post","link":"https:\/\/www.bnreport.com\/en\/us-pulls-back-from-applying-fresh-tariffs-to-chinese-tech-goods\/","title":{"rendered":"US pulls back from applying fresh tariffs to Chinese tech goods"},"content":{"rendered":"

<\/p>\n

The Trump administration has pulled back from slapping tariffs on certain products from China such as laptops and mobile phones, providing relief for jittery global investors.<\/p>\n

Read more:<\/strong> Tariffs hurting US manufacturers, says Trumps ex-economic adviser<\/a><\/p>\n

At the start of the month the US announced it would apply 10 per cent tariffs to $300bn of Chinese goods, meaning nearly all imports from China are levied following a ramping up of tariffs in May.<\/p>\n

Yet the US trade representatives office said today in a statement that tariffs would be delayed until mid-December for products such as \u201ccell phones, laptop computers, video game consoles, certain toys, computer monitors, and certain items of footwear and clothing\u201d.<\/p>\n

\u201cCertain 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,\u201d it said.<\/p>\n

The announcement sent US stocks rocketing after they opened lower. The tech-heavy Nasdaq index rose 2.5 per cent shortly after opening and the Dow Jones industrial average and S&P 500 both climbed 1.9 per cent.<\/p>\n

European stock markets were dragged out of the red, where they had languished for most of the day. Germanys Dax index rose 0.8 per cent, the FTSE 100 climbed 0.5 per cent, and the pan-European Euronext 100 rose 0.9 per cent.<\/p>\n

Investors sold off safer assets and bought up stocks following the signal of a respite in the drawn-out trade war between the worlds two biggest economies.<\/p>\n

The yields on 10-year US government Treasuries rose 5.7 basis points (0.057 percentage points) to 1.706 per cent. Yields move inversely to prices. The Japanese yen, a famous \u201csafe haven\u201d asset, fell 1.5 per cent against the dollar so $1 bought \u00a5106.69.<\/p>\n

\u201cThe consumer facing piece of the tariff exemptions boosted the tech sector, specially companies like Apple which rose 4.75 percent after the news,\u201d said Alfonso Esparza, senior market anaRead More<\/strong><\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

The Trump administration has pulled back from slapping tarif..<\/p>\n","protected":false},"author":1,"featured_media":129403,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[202],"tags":[],"class_list":["post-129401","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-finance"],"yoast_head":"\nUS pulls back from applying fresh tariffs to Chinese tech goods - Business News Report<\/title>\n<meta name=\"description\" content=\"The Trump administration has pulled back from slapping tarif..\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.bnreport.com\/en\/us-pulls-back-from-applying-fresh-tariffs-to-chinese-tech-goods\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"US pulls back from applying fresh tariffs to Chinese tech goods - 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