By Kim Khan
Investing.com – The existing tariffs on Chinese goods imported into the U.S. will remain until after the U.S. presidential election in November, Bloomberg reported Tuesday.
A move to reduce the tariffs of 25% on $250 billion in Chinese goods and 7.5% on $112 billion of goods will hinge on compliance by Beijing to the phasae one trade deal, Bloomberg said.
The U.S. will review progress and possibly trim tariffs no sooner than 10 months after the phase one deal is signed Wednesday, Bloomberg said.
The broader market pulled back after the report, with the S&P 500 moving slightly into the red, down 0.04%.