Xi Jiping

Good will gesture, Trump delays tariff hikes due to the holidays in China

0
164

The United States decided to postpone an increase in duties from $ 25 billion to $ 30 billion on Chinese goods planned for October 1, President Donald Trump announced on Twitter.

Tariffs will increase on October 15th.  Trump explained this decision by the request of Chinese Deputy Prime Minister Liu He and the fact that October 1 is celebrating the founding of the PRC.  “At the request of Chinese Deputy Prime Minister Liu He and in connection with the fact that the People’s Republic of China will celebrate its 70th anniversary on October 1, we agreed to transfer tariff increases as a goodwill gesture,” Trump said.

From September 1, the United States has already increased from $ 10 billion to 10% in duties on goods from China. At the same time, they decided to postpone the introduction of a number of duties, including for certain electronics, until December 15.  Trump explained that they’re doing this “for the Christmas season,” in case “some tariffs affect US consumers.”

The Consumer Technology Association, representing more than 2.2 thousand companies in the United States, said that Washington and Beijing paid $ 10 billion worth of consumer electronics products, of which $ 1 billion came from products related to 5G networks.

The head of the association, Gary Shapiro, said that the increase in duties would already have affected consumers and Christmas gifts and would have cost them more, and a new increase in tariffs means “even more pain for American enterprises, workers and families.”

Avatar

Leave a reply