Trump tariffs on Apple’s stuff delayed until just before Christmas

What Trump giveth, Trump taketh away. And vice versa.

From CNBC: “Apple spikes after Trump administration delays China tariffs on electronics until December

Shares of Apple spiked more than 5% Tuesday morning after the Trump administration said it will delay tariffs, initially set to go into effect on Sept. 1, until Dec. 15 for certain articles including electronics.

The United States Trade Representative said on Tuesday that “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.” It added that the remaining tariffs on “cell phones, laptop computers, video game consoles, certain toys, computer monitors, and certain items of footwear and clothing,” will be delayed until Dec. 15.

My take:  More to come, I’m sure.

Full text of the statement:

USTR Announces Next Steps on Proposed 10 Percent Tariff on Imports from China

Washington, DC – 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.

14 Comments

  1. Michael Thompson said:

    File this under: Tim Cook is the “Street” smartest CEO in Silicon Valley. His relationship (whether fake or real) with President Trump has afforded and will continue to afford Apple with every possible advantage and privilege.

    Alternatively, continue to follow the future governmental regulation coming for Google, Facebook and Amazon. Their CEOs apparently believe that thumbing their noses at the President of the United States is a wise business decision. It is not. .

    2
    August 13, 2019
  2. Gregg Thurman said:

    This is wrong on so many levels. Trump’s Tweets are destruction of investor trust in the markets.

    I mean, why announce tariffs you are going to rescind a week later? These are the actions of somebody having found a new toy and playing with it without regard to how that toy hurts people (but I’ll bet his friends are making big bank).

    6
    August 13, 2019
    • Michael Thompson said:

      Whatever destruction is meted by the tariffs is short-term, but our future trade war victory over China will be far less fleeting. And our victory is assured. One cannot win a trade war when they’re already Killing us on trade. We hold the cards.

      China is suffering badly and they can end their suffering any time that they choose or they can choose to implode economically. In either case, the greatest country in world history will continue to prosper.

      We don’t need China, but they are finished without us.
      The tariff threat worked very well against Mexico

      0
      August 13, 2019
  3. Dan Scropos said:

    The United States is kicking the shit out of China in this so called trade war. It’s not even a war, really. China is on the verge of economic ruin and I’m certain they will see more banks collapse in the coming weeks, if they don’t start compromising. Conversely, The United States has seen no real downside. Farmers are a bit unhappy, but there are a few months before harvest season and prices are not much off the levels of the past years anyway. Meanwhile, we’re closer than ever to deals that will inhibit China from stealing $200 billion annually via IP theft and flooding our country with fentanyl. The deal struck on April 1st banning fentanyl will hopefully curb the tens of thousands of deaths we’ve seen from that deadly opioid.

    1
    August 13, 2019
    • Michael Thompson said:

      @Dan,

      You’re seeing the facts 100% accurately. China is in the process of getting Trumped. It’ll be increasingly harder to coverup the avalanche of bad economic news coming.

      Even their media acolytes, globalist CEOs and NWO cheerleaders won’t be able to coverup the economic demise of China.

      File this under: Socialism and Communism are anti-human and have never succeeded in world history.

      1
      August 13, 2019
      • Gregg Thurman said:

        Communism doesn’t exist anywhere in the world. What does exist are dictatorships led by psychopaths on the order of Hitler, Stalin, Mao, Idi Amin, Pol Pot, Somoza, Bautista, et al. Xi (and Putin) is just another iteration of a long list of power hungry psychopaths.

        4
        August 13, 2019

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