US delays tariffs on key Chinese goods, prompting market surge
Other Chinese items will be removed from the list of goods which will be hit with a 10% tariff from September 1.
The Office of the US Trade Representative said it would go ahead with tariffs on about $300 billion (€268 billion) of other Chinese goods imported to the US in a dispute over Beijing’s aggressive trade policies.
News of the delayed tariffs triggered a rally on Wall Street that saw the Dow Jones surge 2%.
Read more: Opinion: China, US digging in for long battle
Trade talks in doubt
The next round of talks between China and the US had been planned for next month in Washington, but deterioration in relations has cast doubt on whether the meeting will take place.
US President Donald Trump accused Beijing of continuing to renege on its commitment to buy US agricultural goods.
“As usual, China said they were going to be buying ‘big’ from our great American Farmers. So far they have not done what they said. Maybe this will be different!” Trump posted on Twitter on Tuesday.
Meanwhile Chinese Vice Premier Liu He spoke with US Trade Representative Robert Lighthizer and US Treasury Secretary Steven Mnuchin on Tuesday, China’s Ministry of Commerce said in a statement.
The Chinese side said it made “solemn representation” on the tariffs.