Investing.com - Financial Markets Worldwide
Get 40% Off
Get 40% Off
⚠ Earnings Alert! Which stocks are poised to surge?
See the stocks on our ProPicks radar. These strategies gained 19.7% year-to-date.
Unlock full list

U.S. gives Chinese imports more time before more tariffs hit

Published 06/07/2019, 09:52 AM
Updated 06/07/2019, 09:52 AM
© Reuters. Shipping containers are seen at a port in Lianyungang

WASHINGTON (Reuters) - U.S. officials officially granted Chinese exporters two more weeks to get their products into the United States before increasing tariffs on those items, according to a U.S. government notice posted online on Friday

The United States Trade Representative had earlier announced the planned move on May 31.

In the official notice published in the Federal Register on Friday, USTR said it was extending the deadline from June 1 to June 15 for certain products to enter the United States without being subject to an additional 25 percent tariff.

The Trump administration had raised its 10 percent levy on Chinese imports to 25 percent as it sought to pressure Beijing to strike a larger trade deal, although an agreement still remains to be reached.

© Reuters. Shipping containers are seen at a port in Lianyungang

In its notice on Friday, the USTR said affected Chinese companies with products exported to the United States before May 10 -- which would have faced the additional duty on products on June 1 -- now have until mid-month to get their goods in to avoid the increase.

Latest comments

For orders already placed (especially with payment made), it’s US importation companies to pay the extra tariff, not chinese exporters. Trump is to exempt this extra cost to US companies on this extra costs for orders they already placed or deposit already made. How can Trump has mercy on chinese exporters, while he want all of them to close?
I really dont see what an additional two weeks will achieve here
“Hopes” to make the market rally for another 2 weeks before it gets flushed down the toilet again.
Basically Trump wants to pop up the market. He got scared seeing the fall last week.
Now we are being soft?!!!! Woss
Install Our App
Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.