U.S. to Delay Some China Tariffs Until Stores Stock Up for Holiday Shoppers – The New York Times
The administration also said some products were being removed from the tariff list altogether “based on health, safety, national security and other factors.” A spokesman for the trade representative’s office said the products being excluded from the tariffs included car seats, shipping containers, cranes, certain fish and Bibles and other religious literature.
The S&P 500 climbed nearly 2 percent after the announcement, lifted partly by stocks of retailers and computer chip producers that have been sensitive to indications that trade tensions were getting either better or worse.
Best Buy, which gets many of the products it sells from China, was among the best-performing stocks in the S&P 500, up more than 8 percent in morning trading. The Nasdaq composite index rose more than 2 percent.
Liu He, China’s vice premier and the country’s lead trade negotiator, spoke with Robert Lighthizer, the United States trade representative, and Steven Mnuchin, the Treasury secretary, on Tuesday, and the three agreed to speak again in two weeks, the state-run Xinhua News Agency reported.
Earlier Tuesday, Mr. Trump had criticized China for not making large purchases of American farm goods, suggesting that the tariffs might force them into action.
“As usual, China said they were going to be buying ‘big’ from our great American Farmers,” he wrote. “So far they have not done what they said. Maybe this will be different!”