The Trump administration announced it will
hold off on imposing tariffs (Bloomberg) on some of the $300 billion worth of Chinese goods it was set to start taxing next month until December. It also said it will cancel a separate, small portion of the planned tariffs.
The group of imports that won’t see tariffs until the end of the year is worth around $160 billion, according to Bloomberg estimates, and includes smartphones, laptops, and children’s toys. President Donald J. Trump said the decision was aimed at
protecting American shoppers (FT) ahead of Christmas. More than $110 billion worth of imports, including agricultural products, clothes, and kitchenware, will be hit by the tariffs beginning September 1. U.S. stocks and China’s currency
rose after the announcement (FT).