The United States Trade Representative (USTR) has announced it will delay the additional 10 per cent tariff on US$300 billion of Chinese imports to December.
The additional tariffs were scheduled to go into effect on 01 September, however as part of USTR’s public comment and hearing process, the body determined that the tariffs should come into effect on 15 December instead.
Products in this group subject to the additional levy in December include mobile phones, laptop computers, video game consoles, certain toys, computer monitors, and certain items of footwear and clothing.
However 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 per cent, however these products are yet to be known.
"We're doing this for Christmas season, just in case some of the tariffs would have an impact on US customers," President Trump told journalists in New Jersey.
Since the announcement, the ASX 200 index had lifted by 0.5 per cent to 6,600 points by 10.45am AEST this morning, as reported by ABC News.