In the News: US Tariffs Delay; China's Bad Loans Mount; Shanghai Wants RHQs; and Shenzhen Designated Model City

August 19, 2019 | BY

Vincent Chow

The U.S. trade office announces a delay for some China tariffs until December; China's banking system sees non-performing loans increase and capital adequacy ratio decrease in Q2; Shanghai targets regional headquarters with new measures to attract multinational companies; and Shenzhen to see wide-ranging reforms in bid to become a national model for high-quality development and innovation

Shenzhen

US to remove or delay some planned China tariffs until December

The U.S. government announced it would remove or delay some tariffs on the $300 billion of Chinese imports originally planned to take effect on Sept. 1 because of "health, safety, national security and other factors". The products to have tariffs delayed until Dec. 15 include cell phones, video game consoles and laptop computers, the United States Trade Representative (USTR) office said. These are the products the U.S. replies predominately on Chinese imports; in 2018, 75% or more of these products imported to the U.S. were from China, according to reporting of news site Axios.

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