Trump delays tariffs on key Chinese goods

dandyfopp

Bluff and blink.


Trump delays tariffs on key Chinese goods

https://thehill.com/policy/finance/457224-trump-to-delay-tariffs-on-key-chinese-goods


The White House trade office announced Tuesday it would delay tariffs on certain Chinese goods until mid-December and exempt others from a new round of import taxes.

The Office of the U.S. Trade Representative (USTR) said in a statement it would delay tariffs on “cell phones, laptop computers, video game consoles, certain toys, computer monitors, and certain items of footwear and clothing,” until Dec. 15.


The agency also said it would remove an unspecified number of items from a list of Chinese products that will be subject to a 10 percent tariff starting Sept. 1.

“Certain products are being removed from the tariff list based on health, safety, national security and other factors and will not face additional tariffs,” the USTR said.

The full list of exempted products will be released later Tuesday, the office added.

The White House decision to narrow the scope and somewhat weaken the blow of President Trump’s escalating trade war with China comes after weeks of deepening anxiety about the state of the global economy.

Economists at Bank of America, Goldman Sachs and Moody’s Analytics have warned in the past week of the rising chances of a recessionbetween now and the 2020 elections, blaming Trump’s trade policy in part.

The British economy shrank for the first time since 2012 in the second quarter, according to data released last week, while growth in China slowed to its lowest level in nearly three decades.

U.S. businesses and farmers have pleaded with Trump for relief amid the rising costs and tensions of a trade war with China that began in July 2018. Retailers warned that new tariffs on a slew of consumer goods could lead to layoffs, store closings and price increases ahead of the holiday shopping season.

The products subject to the delayed tariffs include items likely on holiday gift lists, giving a boost to the critical consumer spending sector. Roughly 70 percent of the U.S. economy is driven by consumer spending, and several retail stores and chains depend on booming holiday sales for annual profits.

The delay was welcome news to Wall Street. The Dow Jones Industrial Average soared 500 points on the news after closing 400 points lower Monday. Shares of Apple, which manufactures laptops and cellphones in China, grew 5 percent.

Updated at 10:30 a.m.

SaveComment53Like
Comments (53)
Thank you for reporting this comment. Undo
Ziemia(6a)

Sure is a weird negotiation strategy.

1 Like Save    
Thank you for reporting this comment. Undo
artemis_ma

Health???

Just curious.

Save    
Thank you for reporting this comment. Undo
Ziemia(6a)

Whose health?

Save    
Thank you for reporting this comment. Undo
ohiomom

Are you a man or a wimp Trump? Stick to your guns, impose those tariffs.

Backing down makes you look WEAK.

Are you weak?

Are you a wimp?

Prove me wrong (^_^)

2 Likes Save    
Thank you for reporting this comment. Undo
sheesh(5b)

Is he manipulating the stock market? Are his minions buying low on the drops when he interferes with tariffs and trade wars? How much interest does he save on his loans when badges the Fed to lower rates?

16 Likes Save    
Thank you for reporting this comment. Undo
dandyfopp

^

You betcha.

3 Likes Save    
Thank you for reporting this comment. Undo
chase_gw

His typical MO. Shoot from the hip based on emotion.......yes emotion.....before consulting with experts. Then when the poop hits the fan and those who have knowledge on the impact of his poorly thought out decisions get to him...he backtracks.

The economy is the only thing he has going for him come 2020 and his fellow Republicans are terrified of an economic pull back cause by his stupid trade wars.

3 Likes Save    
Thank you for reporting this comment. Undo
whynottryit

https://twitter.com/i/status/1161313879919484929

Pres. Trump says he's delaying new China tariffs for the "Christmas season, just in case some of the tariffs would have an impact on U.S. customers."

1 Like Save    
Thank you for reporting this comment. Undo
chase_gw

Duh! When did that dawn on him?

1 Like Save    
Thank you for reporting this comment. Undo
miss lindsey (still misses Sophie)(8a)

For the Christmas season? So tariffs aren’t expected to have their desired effect within 3 1/2 months?

ha.

1 Like Save    
Thank you for reporting this comment. Undo
whynottryit

But tariffs don't affect American customers, right?

4 Likes Save    
Thank you for reporting this comment. Undo
Delilah66

His is a binary approach to leading the nation: tweets and tariffs. That’s all he has in the hat with his rabbit.


His judgment (of sorts) is proven wrong whichever he pulls out of his (ahem) _ _ _.

2 Likes Save    
Thank you for reporting this comment. Undo
maddie260

This is all a ploy to manipulate the stock market before the election. But can he pull back on tariffs in time for the election? Or will he cause a worldwide recession?

1 Like Save    
Thank you for reporting this comment. Undo
ohiomom

But tariffs don't affect American customers, right?

......but but but Trump said China pays the tariffs. So how could it cost me money?

I will ask Alice.... (^_^)

7 Likes Save    
Thank you for reporting this comment. Undo
maddie260

I'd love to see the trump family stock portfolio. I'll bet they are benefitting in a YUGE way from this bouncing stock market.

4 Likes Save    
Thank you for reporting this comment. Undo
Ziemia(6a)

Trump the hotel owner benefits through all the visits by those negotiating on behalf of countries targeted by Trump the president.

4 Likes Save    
Thank you for reporting this comment. Undo
chase_gw

The Chinese delegation stays at the Trump hotel in Washington........I know, that silly unimportant ethics thing be damned,

3 Likes Save    
Thank you for reporting this comment. Undo
Delilah66

chase, you see a problem with that? Don’cha know the prez is immune to all the ”e” words: ethics, empathy, effectiveness, education, elegance, equality....?

5 Likes Save    
Thank you for reporting this comment. Undo
Kathy

If you ask me someone is doing some inside trading on this bluffing and backing off.

3 Likes Save    
Thank you for reporting this comment. Undo
patriciae_gw(07)

Didn't this whole thing start with some big electronics company and develop creep from there? I have trouble keeping up with the latest reason.

2 Likes Save    
Thank you for reporting this comment. Undo
chase_gw

patriciae, it's not you keeping up. Facts are there are there is no reasoning behind his knee jerk decisions.

2 Likes Save    
Thank you for reporting this comment. Undo
Delilah66

Racist Scrooge defers to Santa. How benevolent. (I waited as long as I could.)

1 Like Save    
Thank you for reporting this comment. Undo
maddie260

I thought Americans didn't pay for these tariffs? So, why the delay? Oh, the hypocrisy and inconsistency. Do his followers not see it?

3 Likes Save    
Thank you for reporting this comment. Undo
chase_gw

Apparently not.......

Save    
Thank you for reporting this comment. Undo
ohiomom

"There's no use trying, one can't believe impossible things."

Save    
Thank you for reporting this comment. Undo
tryingtounderstand

No worries, the economy is just spinning...and not jn a good way

Stocks wilt as bond markets flash recession warnings

LONDON (Reuters) - Stock markets slumped on Wednesday as Germany’s economy went into reverse, fuelling fears of global recession and slamming the brakes on a rally for equities after Washington delayed tariffs on some Chinese imports.

1 Like Save    
Thank you for reporting this comment. Undo
chase_gw

The inversion of the bond market has investors really spooked. It happens rarely and is seen as a sign of an inpending recession. Last time it happened was in 2007 just before the great recession.

Methinks his economic experts got to him.....be interesting to see if Trump back peddles on the existing tarriffs.

1 Like Save    
Thank you for reporting this comment. Undo
how2girl

Be interesting to know the market players who shorted just before tariffs were announced & then went long just before he announced the pull back. Where do they get their information from (straight from the the source?), whose pockets are being lined. Market manipulation.

5 Likes Save    
Thank you for reporting this comment. Undo
blfenton

And he gets his tighty-whities all in a knot calling out China for currency manipulation.


Save    
Thank you for reporting this comment. Undo
chisue

Old games. Let's create 'a crisis', then we can ride to the rescue! Since Trump's base has no concept of even recent history and can't trace back a strategy, it works.

Save    
Thank you for reporting this comment. Undo
Kitchenwitch111

So it seems that China isn't paying the tariffs any more than Mexico is paying for the wall. LOL

8 Likes Save    
Thank you for reporting this comment. Undo
miss lindsey (still misses Sophie)(8a)

lol :-/

Save    
Thank you for reporting this comment. Undo
Save    
Thank you for reporting this comment. Undo
HamiltonGardener

The good news for most of you is that in this trade war, America is best positioned to float. The longer it drags on, the further down other countries will go. It may crush China, but America will only slow down.


When rhe the dust settles, America will have the advantage.

Save    
Thank you for reporting this comment. Undo
Delilah66

Maybe, HG, but as Stephen says, “Meanwhile....”

Save    
Thank you for reporting this comment. Undo
HamiltonGardener

Absolutely. In the meantime, there will be a lot of people take a hit.


Just looking for the positives.

1 Like Save    
Thank you for reporting this comment. Undo
dandyfopp

Welp.



Save    
Thank you for reporting this comment. Undo
vgkg Z-7 Va(Z-7)

China can smell trump's fear.

1 Like Save    
Thank you for reporting this comment. Undo
blue bayou

"China can smell trump's fear."

You think.

The Chinese are playing three dimensional chess for the next millennium and orange bozo is playing checkers (with himsel), between his idiotic tweets and he's still losing!

2 Likes Save    
Thank you for reporting this comment. Undo
Ann

"The good news for most of you is that in this trade war, America is best positioned to float. The longer it drags on, the further down other countries will go. It may crush China, but America will only slow down.

When rhe the dust settles, America will have the advantage."

I agree. This trade issue with China is long overdue to be fixed! China is very much hoping to not have to work with Trump and hopes to wait for Biden or other so they can just carry on as they used to. Luckily, many in America want a resolution to these trade inequities and understand getting there won't be quick, won't be easy, and will require some pain along the way. I heard a number of interviews with farmers in Iowa over the weekend, when all the Dems were there, and it sounds like many of them are firmly behind Trump working through this. Schumer has the right idea on China too.


Save    
Thank you for reporting this comment. Undo
miss lindsey (still misses Sophie)(8a)

The thing about problems that are long overdue to be fixed is that the simple solutions (ie tariffs) is usually not effective.

You’re right Ann, it won’t be easy or painless. You should shoot the Prez a tweet and let him know because I’m pretty sure he thought he would float in there, drop some tariffs, and fix it all up before lunch.

2 Likes Save    
Thank you for reporting this comment. Undo
sheesh(5b)

Ann, you must be delighted with the stock market. Quite a buying opportunity, eh?

2 Likes Save    
Thank you for reporting this comment. Undo
Ann

Sheesh, I kind of wish, but not yet. We're not even 7% off the all time highs yet. But, I am wondering how the next couple weeks and months will play out.

Save    
Thank you for reporting this comment. Undo
Ziemia(6a)

So are most of us.

Save    
Thank you for reporting this comment. Undo
Ann

"You’re right Ann, it won’t be easy or painless. You should shoot the Prez a tweet and let him know because I’m pretty sure he thought he would float in there, drop some tariffs, and fix it all up before lunch."

I think he understands China wants to wait until next November to see who wins the election, because if a Dem, China's got nothing to worry about and they can just carry on with their trade practices as they've grown so accustomed to. I saw a report saying China is pretty confident in a Dem win too. Interestingly, in the same report, the China expert said China was also predicting a Trump win in 2016.

Save    
Thank you for reporting this comment. Undo
Kathy

I wonder why China had a clue Trump would win? Lol

2 Likes Save    
Thank you for reporting this comment. Undo
Ann

Kathy do you also wonder why they are convinced a Dem will win in 2020:)?

Save    
Thank you for reporting this comment. Undo
Ziemia(6a)

Finally, Trump acknowledges that the American consumer is the one paying the price for Trump's tariff war.

3 Likes Save    
Thank you for reporting this comment. Undo
Kathy

Ann,

I think China is telling Trump they have power. We already know this election will be subject to more interference because he hasn’t done anything to secure our voting. It could very well work against Trump, and I have no doubt he will scream bloody murder and refuse to leave if he loses.

Save    
Thank you for reporting this comment. Undo
Save    
Thank you for reporting this comment. Undo
dandyfopp



Save    
Thank you for reporting this comment. Undo
vgkg Z-7 Va(Z-7)

Not to worry Dandy, trump will soon claim that Europe is paying for those trade deficits.......and guess who will eat it up.

Save    

Related Stories

Remodeling Guides 5 Remodels That Make Good Resale Value Sense — and 5 That Don’t
Find out which projects offer the best return on your investment dollars
Full Story
My Houzz My Houzz: Heirlooms and Family Art Fill a 1920s Bungalow
Personal touches trump a huge design budget for a Florida couple with a taste for Americana
Full Story
Feel-Good Home Escape the Inheritance Trap: What to Do With Sentimental Pieces
Too meaningful to toss but too hideous, precious or unusual to display? These ideas can help
Full Story
Working With an Architect How to Hire the Right Architect
Your perfect match is out there. Here’s how to find good candidates — and what to ask at that first interview
Full Story
Industry Research 3 Trends in Residential Remodeling to Watch in Third-Quarter 2019
Houzz looks at how weather, labor shortages and tariffs are affecting businesses
Full Story
Life The Question That Can Make You Love Your Home More
Change your relationship with your house for the better by focusing on the answer to something designers often ask
Full Story
Most Popular Slow Living 101: Tips for Turning Off the Chaos
It may feel as though you're too busy to slow down and enjoy life. But even little changes can have a big effect
Full Story
Feel-Good Home 7 Kitchen Flooring Materials to Boost Your Cooking Comfort
Give your joints a break while you're standing at the stove, with these resilient and beautiful materials for kitchen floors
Full Story
Most Popular 10 Steps for Saying Goodbye to Sentimental Objects
Are keepsakes cluttering your space and your life? Consider this approach for letting go and moving on
Full Story