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Trump stalled China trade war tariffs after aides said it would ‘ruin Christmas’ as billions of presents are imported
White House staff were concerned another crackdown on more importswould see prices on must-have toys and gadgets soar in the run up to the festive period.
President Trump reportedly froze new tariffs on China after being told it would ruin ChristmasCredit: Reuters
CNN reports the President's economic advisers then warned him that his much-heralded move could effectively "ruin Christmas" for millions of Americans.
After apparently taking their advice, Mr Trump then announced his latest raft of tariffs would be delayed until December 15.
“We’re doing this for Christmas season, just in case some of the tariffs would have an impact on U.S. customers,” Trump later told reporters.
“Just in case they might have an impact on people, what we’ve done is we’ve delayed it so that they won’t be relevant to the Christmas shopping season.”
Earlier this month, Trump stepped up the trade war with China by announcing the proposed tariffs on $300 billion of Chinese goods including iPhones and laptops.
He announced on Twitter he would be imposing a 10 per cent tariff on a list of Chinese imports starting on September 1.
The hardline move came after US and Chinese negotiators failed to kickstart trade talks between the world's two largest economies.
Trump has been stepping up the trade war with China, pictured with Chinese President Xi JinpingCredit: Reuters
The proposed levies would have hit a wide swath of consumer goods from mobile phones and laptops to toys and footwear.
Talks between the United States and China collapsed in May after US officials accused China of pulling back from earlier trade commitments.
Washington then sharply hiked tariffs on $200 billion worth of Chinese goods and Beijing retaliated, escalating the trade dispute.
Trump subsequently threatened to impose 25 per cent sanctions on the remaining $300 billion in Chinese imports.
This prompted warnings from Walmart and other major US retailers of a sharp spike in consumer prices.
The basis for the dispute lies with the US President Donald Trump wanting to “Make America Great Again”.
Part of that is to redress what he sees as unfair trade deals the US has agreed to in the past.
https://www.thesun.co.uk/news/9743948/trump-stalled-china-trade-ruin-christmas/
- Jon Lockett
- 17 Aug 2019, 20:30
- Updated: 17 Aug 2019, 20:31
White House staff were concerned another crackdown on more importswould see prices on must-have toys and gadgets soar in the run up to the festive period.
President Trump reportedly froze new tariffs on China after being told it would ruin ChristmasCredit: Reuters
CNN reports the President's economic advisers then warned him that his much-heralded move could effectively "ruin Christmas" for millions of Americans.
After apparently taking their advice, Mr Trump then announced his latest raft of tariffs would be delayed until December 15.
“We’re doing this for Christmas season, just in case some of the tariffs would have an impact on U.S. customers,” Trump later told reporters.
“Just in case they might have an impact on people, what we’ve done is we’ve delayed it so that they won’t be relevant to the Christmas shopping season.”
Earlier this month, Trump stepped up the trade war with China by announcing the proposed tariffs on $300 billion of Chinese goods including iPhones and laptops.
He announced on Twitter he would be imposing a 10 per cent tariff on a list of Chinese imports starting on September 1.
The hardline move came after US and Chinese negotiators failed to kickstart trade talks between the world's two largest economies.
Trump has been stepping up the trade war with China, pictured with Chinese President Xi JinpingCredit: Reuters
The proposed levies would have hit a wide swath of consumer goods from mobile phones and laptops to toys and footwear.
Talks between the United States and China collapsed in May after US officials accused China of pulling back from earlier trade commitments.
Washington then sharply hiked tariffs on $200 billion worth of Chinese goods and Beijing retaliated, escalating the trade dispute.
Trump subsequently threatened to impose 25 per cent sanctions on the remaining $300 billion in Chinese imports.
This prompted warnings from Walmart and other major US retailers of a sharp spike in consumer prices.
The basis for the dispute lies with the US President Donald Trump wanting to “Make America Great Again”.
Part of that is to redress what he sees as unfair trade deals the US has agreed to in the past.
https://www.thesun.co.uk/news/9743948/trump-stalled-china-trade-ruin-christmas/
