Mexican Media Brands
Trump Delays Hike for China Tariffs by 2 Weeks
President Donald Trump says the U.S. will suspend until Oct. 15 its plan to hike tariffs on some $250 billion worth of Chinese goods.
#economics
Share
President Donald Trump says the U.S. will suspend until Oct. 15 its plan to hike tariffs on some $250 billion worth of Chinese goods.
The increase, from the current 25% to 30%, was to take effect on Oct. 1. Trump says the delay is meant as a gesture of good will and in recognition of the 70th anniversary of the People’s Republic of China on that date.
Trump tweeted the policy shift shortly after China announced its own goodwill gesture: lifting a 25% tariff it imposed 13 months ago in response to the 25% levy the U.S. imposed on what then became an expanding list of Chinese goods.
The conciliatory moves by the two countries come as their trade envoys prepare to resume talks in Washington, D.C., next month to end the trade war.
RELATED CONTENT
-
On Lincoln-Shinola, Euro EV Sales, Engineered Carbon, and more
On a Lincoln-Shinola concept, Euro EV sales, engineered carbon for fuel cells, a thermal sensor for ADAS, battery analytics, and measuring vehicle performance in use with big data
-
China and U.S. OEMs
When Ford announced its 3rd quarter earning on October 24, the official announcement said, in part, “Company revenue was up 3 percent year over year, with net income and company adjusted EBIT both down year over year, primarily driven by continued challenges in China.” The previous day, perhaps as a preemptive move to answer the question “If things are going poorly in China, what are you doing about it?, Ford announced that it was establishing Ford China as a stand-alone business unit.
-
Enterprise Edges into Self-Driving Car Market
U.S. rental car giant Enterprise Holdings Inc. is the latest company to venture into the world of self-driving vehicles.