(WSIL) — You don’t have to rush to buy electronics in order to avoid paying a higher price. You’ve now got until December 15 to buy holiday electronics before they get hit with a ten percent tariff.
The United States is delaying tariffs on Chinese-made cellphones, laptop computers and other items and removing other Chinese imports from its target list altogether in a move that triggered a rally on Wall Street.
President Trump announced earlier this month the new import tax impacting goods like cell phones, toys, and video games from China would take effect September 1. U.S. Trade Representative Robert Lighthizer announced Tuesday his office would delay the tariffs to December 15 on some goods, including cellphones, laptop computers, video game consoles, some toys, computer monitors, shoes and clothing. And it’s removing other items from the list based on “health, safety, national security and other factors.”
That buys him extra time to negotiate a deal that could prevent the duty from being implemented at all. If that doesn’t happen and Trump’s new tariffs do go through, they’ll apply to $300 billion worth of goods coming from China.
The president implemented a similar tariff last year that targets about $250 billion worth of mostly industrial materials. The escalating trade war with China has scared some investors and impacted stock prices during the past several trading sessions.
The Associated Press contributed to this report.