Remember when trade wars were “good and easy to win”?
The United States Trade Representative announced on Tuesday that it was removing several items from its list of tariffs on Chinese imports “based on health, safety, national security and other factors” that would’ve been subjected to President Donald Trump’s new 10 percent tariff.
The USTR will also delay tariffs on cell phones, laptops, computer monitors, video game consoles, and “certain items of footwear and clothing” until December 15.
President Donald Trump had tweeted in early August that he was slapping a 10 percent tariff on an additional $300 billion dollars’ worth of Chinese imports effective September 1, which would force Americans to pay extra taxes on goods like iPhones and other electronics.
Economic experts have warned that Trump’s trade war with China poses a major threat to U.S. markets and could risk a recession next year, not to mention the additional costs to U.S. consumers.