The move could mean a growing reluctance to impose more tariffs.
back a plan Tuesday to implement a massive round of tariffs on several Chinese imports because doing so could have raised prices on holiday favorites such as phones, video game consoles and toys—the first acknowledgement from Trump that the U.S./China trade war may hurt American consumers.
Trump is delaying a 10% tariff on a portion of some $300 billion of Chinese imports, including cell phones, laptop computers, video game consoles, toys, computer monitors, and certain items of shoes and clothing, that was originally slated to take effect on Sept. 1. Instead, the tariff won’t kick in until Dec. 15, which means those items—popular among holiday shoppers—won’t be more expensive during the holiday shopping season.that China is paying for the tariffs, not U.S. customers and businesses. But in explaining his decision to delay this latest round of tariffs, which focuses more on consumer goods, Trump for the first time clearly stated that U.S. customers may feel the brunt of the tariffs.
“What we’ve done is we’ve delayed it so they won’t be relevant in the Christmas shopping season,” Trump told reporters, according to theBrian Rose, senior Americas economist at UBS Global Wealth Management, said that while the announcement was only a delay, Trump’s acknowledgement might portend a greater reluctance to impose higher tariffs in the future.
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