[guest post by Dana]
The Trump administration said Tuesday that it would wait until Dec. 15 to impose tariffs on Chinese goods that were supposed to go into effect in September. Other items were removed from the tariff list due to health, safety and national security concerns.
Many of the items on the tariff list are popular holiday gifts. That’s a relief to retailers, which would either eat the added costs or pass them onto shoppers – neither a palatable outcome.
It also means Americans won’t see higher, tariff-inflated prices during their holiday shopping. Those who are traditionally last-minute holiday shoppers may want to skip procrastinating this year, though, and wrap up the shopping before the Dec. 15 deadline.
Why does Trump have to protect consumers from paying more money for popular items during the holidays and *back-to-school season if its the Chinese, and not Americans that are paying billions of dollars, as he claims?
This isn’t hard.
Anyway, here’s what the Mark Zandi, chief economist of Moody’s Analytics had to say about the decision:
I think the president wanted to avoid being the Grinch who stole Christmas. These delayed tariff hikes would have landed squarely on American consumers.
Here is the government’s list of items that will be facing tariffs on December 15, which includes cellphones, laptops, video game consoles, toys, shoes and clothing.
Note: Estimates are that an Apple iPhone would be $75 to $100 higher with the tariffs.
(*h/t Gawain’s Ghost)
(Cross-posted at The Jury Talks Back.)