Trump Blinks on Tech Tariffs, Apple Stock Soars

US delays tariffs on cellphones, laptops and toys from China

With the latest delay in tariffs, once again there were renewed hopes in markets of a resolution to the U.S.

The delay could be calculated to avoid adding tariffs to popular consumer items during the busy back-to-school and holiday shopping seasons.

U.S. President Donald Trump on Tuesday cited China for not following through with expected large purchases of U.S. agricultural products but appeared hopeful that Beijing's stance could change. The US still plans on imposing the 10 percent tariff on hundreds of other Chinese imports this September. In mid-June, hundreds of retailers, trade organizations and industry leaders descended on Washington, D.C., to testify at public hearings on Trump's controversial tariffs over the course of seven days. A wide range of goods, from shoes and apparel to sporting goods, will still be subject to a tariff as of September 1. Analysts noted that most of the items on the December list are high-volume products like electronics that comprise the bulk of America's trade with China.

The exemptions, combined with renewed talks with China, suggest Trump may be willing to compromise.

"These tariffs are essential to preventing further unfair transfers of American technology and intellectual property to China, which will protect American jobs", said President Trump at the start of this month.

Tesla vehicle catches fire after hitting tow truck in Moscow
The Tesla burst into flames after a crash reportedly caused by a failure of its assisted driving feature. Tesla did not respond to FOX Business' request for comment at the time of publication.

"They really would like to make a deal", Trump said Tuesday before boarding a helicopter in Morristown, New Jersey.

The Office of the U.S. Trade Representative said tariffs would also be delayed until December 15 on "computers, video game consoles, certain toys, computer monitors, and certain items of footwear and clothing".

Still, the best possible outcome, he said, would be a "mini-deal" in which China agrees to buy more American products and narrow the gaping US trade deficit with China.

The USTR's action was published just minutes after China's Ministry of Commerce said Vice-Premier Liu He conducted a phone call with US trade officials. -Chinese trade spat would slam global growth and fester unresolved until after US presidential elections in November 2020. In the first half of the year, Mexico was the top trading partner of the United States followed by Canada, as per media reports.

In a statement Tuesday, the Office of the US Trade Representative said that it was also recommending a delay in the tariff for certain products based on health, safety and national security reasons.

Related News:

  • The Morning Show with Jennifer Aniston and Reese Witherspoon releases first teaser

    The Morning Show with Jennifer Aniston and Reese Witherspoon releases first teaser

    Witherspoon previously worked with Aniston on two episodes of Friends , playing Rachel's sister Jill. The Morning Show will be released sometime in fall 2019, with an exact date yet to be announced.
    Samsung teams with Xiaomi to launch 108MP mobile sensor

    Samsung teams with Xiaomi to launch 108MP mobile sensor

    Samsung confirmed that the new sensor has 0.8 micron pixels or photo-sites - the same size as current 48MP and 64MP cameras. The sensor also supports video recording without losses in field-of-view at resolutions up to 6K at 30-frames-per-second.
    Steelers WR Coach Darryl Drake Passes Away

    Steelers WR Coach Darryl Drake Passes Away

    Steelers wide receiver JuJu Smith-Schuster tweeted Sunday that Drake was "my favorite coach that I've ever had in this game". Darryl had such an impact on the players he coached and everyone he worked with throughout his entire career.
  • Salah comforts star-struck Liverpool fan who injured nose

    Salah comforts star-struck Liverpool fan who injured nose

    He said: 'I had a really bloody nose, someone took me home back to my front garden and I just saw Salah's auto by our house. He'd seen one of the boys had hurt himself and he had the decency to drive back into the close to check that he was ok .
    England star James Anderson vows to return before Ashes end

    England star James Anderson vows to return before Ashes end

    With the likelihood of playing his maiden Test, Archer is looking forward to carve his name in the ever so renowned Lord's Honours Board.
    Congo Medics Arrested over Death of WHO Ebola Doctor

    Congo Medics Arrested over Death of WHO Ebola Doctor

    Rwanda and Congo are discouraging travel across their border, as officials try to prevent further spread of the highly contagious Ebola virus.
  • Realme 5 series to debut on August 20

    Realme 5 series to debut on August 20

    Based on the Flipkart teaser page , Realme 5 will have a lens with a large aperture and pixel size, which is the primary camera. Under this new series, the smartphone will include a quad rear camera setup and also feature an ultra-wide-angle lens.
    Asteroid size of Great Pyramid of Giza to skim Earth

    Asteroid size of Great Pyramid of Giza to skim Earth

    An Asteroid titled as Asteroid 2019 OK came hurtling towards the Earth at a speed of almost 15 miles a second, before flying past. Due to the closeness of the asteroid's intersection with Earth's orbit, it was classified by CNEOS as potentially hazardous .
    Bodies Found in Manitoba Confirmed to be Wanted Murder Suspects

    Bodies Found in Manitoba Confirmed to be Wanted Murder Suspects

    Police confirm that remains found last week in Manitoba belong to two British Columbia men, wanted in a cross-Canada manhunt. A burned-out camper believed to have been used by the two suspects was found a mile from Dyck's body.
  • Ladies Scottish Open: South Korea's Mi Jung Hur seals four-shot win

    Ladies Scottish Open: South Korea's Mi Jung Hur seals four-shot win

    She tied for third in her previous tournament, the Dow Great Lakes Bay Invitational, her best finish since 2016. The victor , Hur, won her third LPGA Tour title ten years after her first and five years after her second.
    Samsung Galaxy A10s with Infinity-V display, dual-cameras announced: Features, specifications

    Samsung Galaxy A10s with Infinity-V display, dual-cameras announced: Features, specifications

    However, Samsung has just announced about the phone specs and features, so the availability and launch details are still unknown. On the rear, the device packs a fingerprint sensor and a Dual camera setup made of a 13MP primary sensor and a 2MP depth sensor.

    Myanmar: Monsoons trigger landslides, killing 51 people

    On Saturday, Myanmar Vice President Henry Van Thio visited the village to deliver cash assistance to the victims' families. The rescue and recovery operations which continued over the weekend were hindered by continuous rainfall and deep mud.


Most liked

Nike is launching a sneaker subscription service for kids
It is also collaborating with KaBoom, a national nonprofit focused on giving kids of all backgrounds the opportunity to play. According to a Nike press release, "The experience of shoe-shopping for young kids is deceptively complex".

Walmart pulls violent video games signs after mass shootings
Some Walmart employees have called for a walkout over the comapny's continued sales of firearms in the wake of the attack. And while it will be taking down promotional materials deemed "violent", it will continue to sell guns and ammunition.

Apple Might Soon Offer Special iPhones To Security Scientists
The bug let remote attackers run arbitrary code or DoS an app by simply issuing an SQL query like a search. This year the program has also been extended to Apple's connected ecosystem of MacOS, WatchOS and tvOS.

This is What Jeffrey Epstein Reportedly Used to Kill Himself
He had planned to see him this week, before finding out Saturday that his future client was dead of an apparent suicide. The decision by officials at the Bureau of Prisons not to keep Epstein on a suicide watch has come under scrutiny.

Michael Conforto's shirt ripped off during celebration of Mets' walk-off win
It was the second consecutive blown save for Washington's bullpen. "I told the boys, 'Hey, we've got to will it tomorrow'". Mets starter Noah Syndergaard allowed two runs on seven hits and two walks while striking out five over seven innings.

Digital cameras vulnerable to ransomware, Check Point researchers find
Once a Canon EOS 80D camera joined that wireless access point, the researchers were able to remotely install the malware on it. The full research report into the vulnerabilities is available from Check Point.

Raptors open 2019-20 season vs. Pelicans, Kawhi returns December 11
Kawhi Leonard's return to Toronto will reportedly come on December 11, when the Raptors host the Los Angeles Clippers . Toronto will get its rings on October 22, when it plays host to New Orleans and No. 1 overall pick Zion Williamson .

Vikings Acquire Kicker From Ravens For Draft Pick
Vedvik would've been traded last season, but he was assaulted in East Baltimore before the Ravens could deal him to another team. Vedvik spent all of a year ago on Baltimore's NFI list after the team signed him as an undrafted free agent out of Marshall.

Missy Elliott to Receive Michael Jackson Video Vanguard Award at 2019 VMAs
She is a five-time Grammy victor and the first female hip-hop artist to be inducted into the Songwriters Hall of Fame. MTV made the announcement on Monday (Aug. 12). "Thank you God @MTV @vmas am SO HUMBLED".

Instead of a birthday bash, Sara Ali Khan prefers doing THIS
Love story of Sara-Kartik began during Karan Johar's chat show, where she showed interest in dating Kartik. As per a report by SpotboyE, Kartik Aaryan is off to Bangkok to surprise Sara Ali Khan on her birthday.

China likens Hong Kong protests to terrorism, United States warns against crackdown
Images of the woman, who was bleeding heavily from her eye, were shared widely on social media over the weekend . Hong Kong carrier Cathay Pacific warned the disruption could cause delays or cancellations of flights.

Samsung insists the Galaxy Home speaker is coming soon
And yes, there is an earpiece on the Galaxy Note 10 duo, although it's extremely hard to spot because of the small bezel. Also, one of the new features that Samsung introduced is the capability to zoom into sounds while recording a video.

Suffolk's Alexander Albon gets Red Bull promotion
Here is what Red Bull Racing had to say about the matter in a statement, according to Formula 1 . Gasly is set to replace Albon at Toro Rosso for the remainder of the 2019 season.

United States to support post-Brexit Britain with free trade deal, Bolton says
Bolton, in London for two days of talks with British officials, is seeking an improved U.S. "We want to move very quickly". Johnson's spokesman said the Britain wanted the Hong Kong government to engage with all parties in constructive dialogue.

Watch Kylie Jenner's Daughter Stormi Sing 'Happy Birthday' to Her!
Her boyfriend Travis Scott is to be blamed as he is busy spoiling his ladylove with extra love and care and roses and gifts. Now, after him, her elder sister Kim Kardashian hopped in to join the bandwagon of showering admiration on Kylie .