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Stocks rise on news of tariffs increase delay
- Thursday | 15th August, 2019
But the Trump administration still plans to impose 10% tariffs on thousands of Chinese food, clothing and other consumer electronics products beginning Sept. 1. Based on a Reuters analysis, the delay could extend to around half of the $300 billion list of remaining Chinese imports. Chinese imports subject to the tariffs on Dec. 15 totalled about $156 billion last year, according U.S. Census bureau data. Since Trump’s Aug. 1 tweets announcing the new tariffs, the US benchmark S&P stock index has dropped more than 4%. The tariff delay, combined with renewed talks with China, suggest Trump may be willing to compromise.
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