Donald Trump China

Throughout its trade war with China, the Trump administration has consistently struck the same message: They’re paying for the entirety of the tariffs, and not the United States.
But on Wednesday, Secretary of Commerce Wilbur Ross went on CNBC to explain the administration’s decision to delay a portion of the planned tariffs until December 15.
He cited a desire to protect shoppers from adverse effects during the holiday season, given the goods affected had included laptops, cellphones, toys and video game consoles among others.
It’s a tacit, yet remarkable admission that the ongoing trade war with China is threatening the pockets of American consumers.
President Donald Trump has also started to acknowledge the cost of the trade war on Americans.
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Throughout its trade war with China, the Trump administration has consistently struck the same message: They’re paying the entirety of the tariffs, and not the United States.

But early on Wednesday, Commerce Secretary Wilbur Ross went on CNBC to explain the administration’s decision to delay a portion of the planned tariffs until December 15, which would have affected the rest of Chinese imports into the United States.

He cited a desire to protect shoppers from any adverse effects during the holiday season, given the goods affected had included laptops, cellphones, toys and video game consoles among others.

“Nobody wants to take any chance at disrupting the Christmas season,” Ross said.

Read more: The Trump administration delays a portion of planned China tariffs until December

It’s a tacit, yet remarkable admission that the ongoing trade war with China is threatening the pockets of American consumers. Just over a year ago, Ross staunchly defended Trump’s massive tariffs as being “no big deal” on CNBC — and held up cans of soup, beer, and soda to illustrate his point.

President Donald Trump has also started to publicly recognize the cost of the trade war on Americans. Asked by reporters about the delay on implementing tariffs on Monday, Trump said, “We’re doing this for the Christmas season.”

And he added: “Just in case some of the tariffs would have an impact on US consumers.”

The admission reflects the mounting frustration the administration is facing from business owners and corporate leaders fed up with Trump’s volatile approach to trade. Mary Lovely, a trade scholar at the Peterson Institute for International Economics, told INSIDER’s Gina Heeb the administration’s reversal was “a bow to domestic political interests.”

While the trade war has dampened demand for Chinese exports, experts say its also contributed to lower business investment and an erosion of confidence in the American economy.

The White House did not offer a comment on Wednesday morning on the administration’s rhetorical shift.

During his campaign in 2016, Trump repeatedly lashed out at China, saying “they’re ripping us off” and he characterized its trade policies as “the greatest theft in the history of the world.” Then he embarked on a trade war against the world’s second biggest economic power, slapping tariffs on …read more

Source:: Business Insider

      

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The Trump administration is starting to publicly recognize the costs of the US-China trade war on Americans

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