Asia Stocks Trade Higher after Trump Delays Tariffs on Chinese Consumer Goods!

U.S. President Donald Trump had announced that he would delay the 10% tariffs on Chinese consumer goods worth around $150 billion.

Stock markets in Asia saw the first light of the day after the U.S. President Donald Trump had announced that he would delay the 10% tariffs on Chinese cell phones, laptops, toys and other consumer goods from the previous deadline on September 1st to December 15th.

Overnight, he had decided to delay the 10% tariffs, asserted that the higher tariffs would hurt the U.S. holiday sales on Christmas. The delay would affect half of the $300 billion targeted list of Chinese goods.

The announcement came after the U.S. Trade Representative Robert Lighthizer and Treasury Secretary Steven Mnuchin spoke with Chinese Vice Premier Liu He over the phone. Both parties agreed to discuss more detail on the phone within the next two weeks.

 

In the morning session on August 14, 2019, Nikkei jumped 1%, SSEC soared 1.03%, HSI rebounded 1.7%, ASX 200 gained 0.37% and Kospi edged up 1.21%.

SET closed yesterday at 1,620.23 points, declined 30.41 points or 1.84% with a trading value of THB 64.18 billion.

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