US President Donald Trump temporarily lifts tariffs on hundreds of Chinese goods saying his administration was “making a lot of progress” with China
US President Donald Trump listens to Australia’s Prime Minister Scott Morrison during a joint news conference in the East Room of the White House in Washington, US, September 20, 2019.
The decision helped buoy stock markets looking for light at the end of the tunnel as the trade war drags into its second year.Earlier this month, Trump announced a two-week delay in a new round of duties increases on hundreds of billions of Chinese goods that had been due to take effect on October 1.
The goods now exempted cover a broad range of uses and applications and include steel girders, electronics, such as data processors used by manufacturers, as well as pumps, filters, forklifts, mechanical equipment and pet supplies. While slowing, the US economy has so far been more resilient, with a recent batch of economic data showing surprising strength in important areas.
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