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Trade war

US delays China tariffs on phones and laptops for Christmas season

NY stocks jump on the news, pushing up Apple and Nike shares

The delay will be welcomed by consumers while giving the U.S. and China more time to sort out their trade differences.   © Reuters

WASHINGTON/BEIJING -- The U.S. will postpone enacting an additional 10% tariff on key Chinese exports, including smartphones, laptops and toys, until Dec. 15, a move likely intended to dull the pain for American consumers during the critical Christmas shopping season.

The Office of the U.S. Trade Representative made the announcement on Tuesday. The U.S. was set to impose the next round of sanctions on roughly $300 billion of Chinese products on Sept. 1, affecting virtually all Chinese exports still untouched by the trade war.

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