US delays some China tariffs until December

The US has moved the levy of 10pc tariffs on a number of Chinese imports, including smartphones, to 15 December from 1 September, following industry consultations.

Laptops, video game consoles and computer monitors imported from China will also be subject to the new later deadline of 15 December. This will support demand for electronic metals and ease pressure on supply chains as retail inventory is built up for the holiday period.

"Certain products are being removed from the tariff list based on health, safety, national security and other factors, and will not face additional tariffs of 10pc," the US trade representative office said. This is likely to include rare earths, antimony, indium and germanium metal that were excluded from all previous tariff rounds. Germanium oxide was not excluded and is already subject to a 25pc import tariff.

US president Donald Trump announced the imposition of 10pc import tariffs on the remaining $300 bn/yr of Chinese goods at the start of August, following two days of talks in Osaka, Japan, that were intended to restart trade negotiations between the two countries.