Stocks rally as US delays tariffs on key Chinese imports
Relief and rallies on Wall Street after Trump administration delays China tariffs
Asian shares were mostly higher Wednesday after U.S. stocks, especially shares of tech companies and bond yields rallied Tuesday following the Trump administration's decision to delay tariffs on key Chinese imports. Early in Tuesday's session, equities turned positive on a report that China's commerce secretary agreed to conduct a phone call in two weeks with U.S. Trade Representative (USTR) Robert Lighthizer, according to Reuters. Wall Street then learned that the White House was delaying until Dec. 15 additional tariffs on certain Chinese exports. The announcement was greeted with relief on Wall Street and by retailers who have grown fearful that the new tariffs would wreck holiday sales. Among the products that will benefit from the 3½-month reprieve are such popular consumer goods as cellphones, laptops, video game consoles, some toys, computer monitors, shoes and clothing.
Asian shares were mostly higher Wednesday after U.S. stocks, especially shares of tech companies and bond yields rallied Tuesday following the Trump administration's decision to delay tariffs on key Chinese imports. Early in Tuesday's session, equities turned positive on a report that China's commerce secretary agreed to conduct a phone call in two weeks with U.S. Trade Representative (USTR) Robert Lighthizer, according to Reuters. Wall Street then learned that the White House was delaying until Dec. 15 additional tariffs on certain Chinese exports. The announcement was greeted with relief on Wall Street and by retailers who have grown fearful that the new tariffs would wreck holiday sales. Among the products that will benefit from the 3½-month reprieve are such popular consumer goods as cellphones, laptops, video game consoles, some toys, computer monitors, shoes and clothing.
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