Listen: Trump blinks as trade war threatens consumers
"More than a year president trump has lied and claimed that his tariffs on chinese goods are paid for by by china and not by americans. He's tweeted the lie on several occasions. He's repeated numerous times at his rallies. He said at a rally in cincinnati ohio not even two weeks ago l. Don't let them use the fact is china devalue their currency their pour money into their system uh they pour it in and because they do that you're not paying for. Those tariffs china's paying those tariffs. This is an argument to be had here. We might have it but today. The president blinked his u._s. Trade representative's released a statement on trump's next round of plan tariffs on chinese chinese goods saying quote it was determined that the tariffs should be delayed to december fifteen for certain articles products in this group include for example cell phones laptop laptop computers video game consoles certain toys computer monitors and certain items of footwear and clothing now why would trump trump wait to level tariffs on goods like cellphones laptops video game consoles toys computer monitors verse and shoes until the middle of december. I think we may have given it away in the graphic but let let's let the president explain himself enjoyed. Some of the harem would have an impact on your father. Live in fact that we've elected dollars from china might have an effect the christmas shopping season the reason president trump wouldn't put tariffs on those vitamin right before christmas is because americans are the ones paying a higher price and trump knows. It's not good politics to make christmas more expensive when you're running for re election but but this is just the latest in the president's ongoing trade war with china that has had a consistent intangible effect on the us economy and stockmarket in two thousand eighteen when trump first announced his tariffs stocks fell earlier this month when trump announced more tariffs stocks fell when china responded by allowing its currency to weaken u._s. Stocks folks had their worst day of the year today stocks rose following trump's announcement that he's delaying some terrorist but not enough to recover from yesterday steep drop trump's trade trade war with china has been stoking uncertainty just last month. The fed was forced to cut rates in part because of the global drag created by trump's trade war and now political reports economists that goldman sachs morgan stanley and bank of america all warned that trump's bitter trade war with china is taking a bigger bite out of economic growth than expected here with me."