The Trump administration is postponing some of its new tariffs on Chinese imports — a significant retreat in the trade war that has rattled financial markets on both sides of the Pacific.
The Office of the U.S. Trade Representative announced on Tuesday that 10% tariffs on certain popular consumer items — including cellphones, laptop computers, video game consoles, computer monitors and some toys, shoes and clothing — will be postponed until Dec. 15.
“What we’ve done is we’ve delayed it, so they they won’t be relevant to the Christmas shopping season,” President Trump told reporters.
The delays affect about $160 billion worth of imports, according to calculations by the advocacy group Tariffs Hurt the Heartland. Tariffs on another $112 billion worth of Chinese imports are still set to take effect on Sept. 1 as scheduled. […]