Electronics manufacturers are no doubt breathing a collective sigh of relief this morning at the news that the United States Trade Representative (USTR) has delayed tariffs on a number of categories.
A long list of exports, including livestock, foodstuff and clothing will have the additional 10 percent tariff imposed on September 1. Others, including “cell phones, laptop computers, video game consoles, certain toys, computer monitors, and certain items of footwear and clothing” have simply been delayed until December 15.
It seems the fees are an inevitability, but many might be able to scrape through just in time for the holidays.
“Certain products are being removed from the tariff list based on health, safety, national security and other factors and will not face additional tariffs of 10 percent,” the USTR writes. “Further, as part of USTR’s public comment and hearing process, it was determined that the tariff should be delayed to December 15 for certain articles.”
That list includes a wide range of electronics, from “telephones for cellular networks or for other wireless networks” to “telephone answering machines” and “cassette players (non‐recording) designed exclusively for motor‐vehicle installation.”
Stock prices for companies like Apple have already seen a positive bump following the news. The White House is expected to have additional trade talks with China next month in Washington, though Trump has since cast some doubt.
Asked by reporters whether he might cancel talks, the President answered, “Maybe. We’ll see what happens.”