President Trump has delayed a 10% tariff on some Chinese goods, including cellphones, laptop computers, shoes and toys, until December 15. Other products will be spared from the tariffs altogether. Trump has repeatedly claimed that tariffs would only harm Chinese producers, but appeared to shift his rhetoric slightly Tuesday.
President Donald Trump: “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 for the Christmas shopping season.”
Around $112 billion of Chinese goods will be hit with the planned 10% tariff in September. Last week, the Treasury Department designated China a currency manipulator after it weakened its currency to an 11-year low.