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Trump delays Chinese tariff increase

WASHINGTON (BRAIN) — President Donald Trump on Wednesday tweeted that a planned increase in tariffs on Chinese goods, including many bike products, will be delayed 15 days.

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The administration had announced earlier this month at items on the tariff lists 1, 2, and 3 would see their Section 301 tariff increased from the current 25% to 30% on Oct. 1. On Wednesday he said the increase will be put off until Oct. 15 “as a gesture of good will.”

Earlier Wednesday, China announced it would exempt some U.S. goods from its retaliatory tariffs, which Trump told reporters was a “big move.” The exemptions include anti-cancer drugs and lubricants, animal feed, whey, and fish meal.

A 15% tariff on a list of $300 billion in Chinese goods, imposed on Sept. 1, remains in place. The administration originally set those tariffs at 10%, but increased them to 15% on Aug. 26. That list, called List 4, includes many bike accessories, including helmets and lights. Other items, including balance bikes, are set to receive the 15% tariff on Dec. 15. 

More: How we got here, a Trump tariff timeline, updated Sept. 11, 2019.

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