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Shipping containers from China and Asia are unloaded at the Long Beach port, California. Photo: Mark Ralston/AFP/Getty Images

The impending 10% tariffs on $300 billion worth of Chinese imports targeted by President Trump in the trade war will be delayed from Sept. 1 to Dec. 15 for certain products, the Office of the U.S. Trade Representative announced Tuesday. Certain products will also be taken off the list based on "health, safety, national security and other factors."

Why it matters: The delay — for items like cellphones, laptops, video game consoles, certain toys, computer monitors, and certain items of footwear and clothing — will help accommodate the holiday rush to ship products from China, easing the financial burden on U.S. importers. The Dow spiked 2% on the news, with the share price of companies like Apple, Best Buy, Dollar Tree, Hasbro and Gap leading the surge.

Between the lines: The threat of a crashing stock market and higher Christmas shopping prices appears to have spooked the Trump administration, despite the president's false insistence that China pays the cost of tariffs directly into the U.S. Treasury.

  • China expert Bill Bishop notes on Twitter: "Remarkable cave by Trump on his tariff threat from early August. The message to Beijing is Trump can’t hold firm because of worries voters may get unhappy with more expensive holiday goods. So why would Beijing make concessions?"

What's next: The next round of U.S.-China trade talks is expected to take place in the next 2 weeks, according to the Chinese Ministry of Commerce.

Go deeper: The forever trade war

Go deeper

Updated 2 hours ago - Politics & Policy

House cancels Thursday session as FBI, Homeland Security warn of threat to Capitol

Photo: Eric Baradat/AFP via Getty Images

The FBI and Department of Homeland Security predict violent domestic extremists attacks will increase in 2021, according to a report obtained by Axios.

Driving the news: The joint report says extremists have discussed plans to take control of the Capitol and "remove Democratic lawmakers" on or about March 4. The House canceled its plans for Thursday votes as word of the possible threats spread.

3 hours ago - World

Pope Francis set to make first papal visit to Iraq amid possible turmoil

Data: Vatican News; Map: Danielle Alberti/Axios

Pope Francis is forging ahead with the first papal trip to Iraq despite new coronavirus outbreaks and fears of instability.

The big picture: The March 5–8 visit is intended to reassure Christians in Iraq who were violently persecuted under the Islamic State. Francis also hopes to further ties with Shiite Muslims, AP notes.

"Neanderthal thinking": Biden slams states lifting mask mandates

States that are relaxing coronavirus restrictions are making "a big mistake," President Biden told reporters on Wednesday, adding: "The last thing we need is Neanderthal thinking."

Driving the news: Texas Gov. Greg Abbott (R) said Wednesday he will end all coronavirus restrictions via executive order, although some businesses are continuing to ask patrons to wear face masks. Mississippi is lifting its mask mandate for all counties Wednesday, per Gov. Tate Reeves (R).