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Traders saw strong reversals across the board yesterday as the market reacted to the unexpected news from the US. Some of the goods due to be under new tariffs from September 1st will now be exempt until a later date. In a statement released yesterday, US Trade Representative Robert Lighthizer explained that the US is delaying imposing tariffs on some imports from China until 15 December because of
“health, safety, national security and other factors”.
Trump’s “Gift” To US Shoppers
Among the products due to have tariffs postponed are mobile phones, laptops, video game consoles, some toys, computer monitors, and certain footwear and clothing. Speaking with reporters as he left a rally in Pittsburgh, President Trump said “We’re doing this for the Christmas season,” to avoid hurting US shoppers.
The news was welcomed by traders following the recent deterioration in relations between the US and Ch...
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