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US delays imposing tariffs on certain imported goods until December 15

THE Office of the US Trade Representative (USTR) is postponing until December 15 the imposition of tariffs on some goods included on a list of US$300 billion worth of products imported from China

US delays imposing tariffs on certain imported goods until December 15

THE Office of the US Trade Representative (USTR) is postponing until December 15 the imposition of tariffs on some goods included on a list of US$300 billion worth of products imported from China

15 August 2019 - 19:00

THE Office of the US Trade Representative (USTR) is postponing until December 15 the imposition of tariffs on some goods included on a list of US$300 billion worth of products imported from China.

While a fourth round of Section 301 tariffs on goods from China is due to be imposed on September 1, tariffs on mobile phones, laptop computers, video game consoles, certain toys, computer monitors, certain footwear and apparel, certain agricultural products and certain chemicals, among other goods, will not take effect until December 15 when the tariffs will be assessed at a rate of 10 per cent, USTR said



In addition, the USTR is taking certain products off the proposed $300 billion tariff list published on May 17, based on health, safety, national security and other factors, reported American Shipper.



Analysis by global trade data company Panjiva, S&P Global Market Intelligence shows that the fourth tranche of planned China tariffs comprised $262.6 billion worth of goods from China in total in the 12 months prior to June 30.



Panjiva believes the tariff postponement may reduce disruptions during the peak shipping season.



Speaking on Fox Business about the tariff postponement, The Toy Association CEO Steve Pasierb said the next four months are the most important four months of the year, as the holiday season approaches.



'Our members are kind of sorting out what [the tariff] impacts are, but largely, they're very pleased to have this through the holiday season,' Mr Pasierb was quoted as saying. 'Really, it gets us into?planning for next holiday. When they're sitting down with retailers, they can have a very different conversation this year.'


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