Trump suspends tariff hikes for products imported from China for three months

Trump suspends tariff hikes for products imported from China for three months

The world is watching closely the developments of the increasingly unstable relationship between U.S and the China, focusing on the trade war that is taking place between the two largest powers in the world. One aspect of the imbroglio, in particular, is of interest to American and worldwide consumers: Donald Trump's promise to raise taxes on items manufactured in the Wall country from 10% to 25% included iPhones and MacBooks.

Now, a little hiss of hope has emerged: as informed by Reuters, the American president announced last Saturday that he will suspend tariff increase plans for 90 days and, during this period, negotiate “structural changes” with the Chinese government at key points in the trade dispute between countries, such as intellectual property protection , forced transfer of technologies and cyber intrusion.

The news comes directly from Buenos Aires, where Trump met with the President of China, Xi Jinping, and other important figures of the Communist Party after the G20 meeting. According to Chinese Foreign Minister Wang Yi, the agreement is a milestone for the future of relations between the two countries, which, according to him, will now be marked by cooperation and stability.

The suspension of the tariff increase already brings a practical counterpart to China, which has pledged to substantially increase the purchase of American products from the agriculture, energy and industry sectors; the country also said that it will investigate and prosecute fentanyl traffickers, a 50x more addictive option than heroin and which has frequently left Chinese ports.

It remains to be seen, now, if this period of friendship will last for a long time. At least for now, iPhones, MacBooks and other consumer goods are free of the rate hike, but in 90 days no one knows what can happen.

The news, of course, had a positive effect on the actions of tech giants with Apple, which would be directly affected by the new policy, and also on stock exchanges around the world (including Brazil).

via Cult of Mac