WASHINGTON: U.S. President Donald Trump on Tuesday backed off his Sept. 1 deadline for 10% tariffs on remaining Chinese imports, delaying duties on cellphones, laptops and other consumer goods, in the hopes of blunting their impact on U.S. holiday sales.
The delay which, affects about half of the $300 billion (£248.8 billion) target list of Chinese goods - along with news of renewed trade discussions between U.S. and Chinese officials - sentstocks sharply higher and drew cautious relief from retailers and technology groups.