As The Inquisitr previously reported, research continues to suggest that Donald Trump's tariffs on China are being paid by American consumers. One study also found that U.S. exporters are also paying more due to retaliatory tariffs from the East Asia superpower. In combination with fears of an incoming recession, CNN reports that Trump's advisers scrambled to find a strategy to stall his threatened tariffs.
Apparently, appealing to his Christmas spirit worked.
Trump's team reportedly sat down with him during a meeting last week and warned that applying new tariffs on Chinese imports could "ruin Christmas." Trump subsequently announced that the tariffs would be delayed until December 15. At this point, the products on the shelves for Christmas season would have already shipped off.
According to Peter Navarro, Trump's hardline trade and manufacturing adviser, Trump's decision is a "Christmas present" to China. Trump also reportedly said in meetings that he hoped his decision would push U.S.-China trade war forward. However, China made no mention of the delay in a statement from the Ministry of Finance Thursday, which instead simply said it would retaliate if Trump issued new tariffs on $300 billion Chinese products.
The Trump administration is currently facing fears of a recession and the economic anxieties that come with one. The team is reportedly looking for ways to prevent any decline from hitting prior to the 2020 presidential election. As of now, part of Trump's strategy appears to be relying on the currently robust economy and focusing on the stock market."You have no choice but to vote for me because your 401(k), everything is going to be down the tubes," he said to the crowd at a New Hampshire rally. "Whether you love me or hate me, you've got to vote for me."
But despite his public boast, Trump is reportedly worried about the recession. A new The Washington Post report claims that he is "anxious" about an impending economic crash and believes that forecasters, economists, and analysts are conspiring against him to thwart his re-election. The president also reportedly believes that the media is focusing on stories that spotlight the potential negatives of the economy in order to drag down the stock market.
"He thinks that all the people that do this economic forecasting are a bunch of establishment weenies — elites who don't know anything about the real economy and they're against Trump," said a Republican close to Trump.Trump rejects the idea that he inherited Barack Obama's strong economy and claims that a Democratic win in 2020 will destroy it.