The Trump administration announced a delay in planned new tariffs on Chinese goods Tuesday, pushing back imposition of the additional taxes in order to give U.S. businesses more time to stock up for back-to-school and holiday shopping seasons, according to The New York Times.
The new 10 percent tariff was set to take effect Sept. 1 on $300 billion of Chinese products, and likely will cause price increases on popular goods, meaning consumers will feel the impact of the trade war more than before.
Some of the notable items that were going to be subject to the tariffs included consumer electronics, video game consoles, some toys, and computer monitors. Some types of shoes and clothes would also be affected.
The tariffs will now be pushed back to Dec. 15, and other, unspecified products are being totally removed from the tariff list "based on health, safety, national security and other factors."
The Trump administration has already imposed a 25 percent tariff on about $250 billion in Chinese goods, but little progress has been made in trade talks over the past several months.
One casualty of the trade war with China has been American farmers, who have suffered due to China not purchasing crops at normal levels. Many farmers have been forced to let their crops go to waste because they haven't been able to sell to China, creating a need for billions of dollars in government aid.
That is one of the issues presenting itself as an obstacle in trade talks, and which President Donald Trump emphasized in a Tuesday morning tweet.
"As usual, China said they were going to be buying 'big' from our great American Farmers," President Trump wrote. "So far they have not done what they said. Maybe this will be different!"
Read the full statement from the United States Trade Representative below:
The United States Trade Representative (USTR) today announced the next steps in the process of imposing an additional tariff of 10 percent on approximately $300 billion of Chinese imports.
On May 17, 2019, USTR published a list of products imported from China that would be potentially subject to an additional 10 percent tariff. This new tariff will go into effect on September 1 as announced by President Trump on August 1.
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.
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. Products in this group include, for example, cell phones, laptop computers, video game consoles, certain toys, computer monitors, and certain items of footwear and clothing.
USTR intends to conduct an exclusion process for products subject to the additional tariff.
The USTR will publish on its website today, and in the Federal Register as soon as possible, additional details and lists of the tariff lines affected by this announcement.