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President Donald Trump told reporters that he would delay tariffs on Chinese electronics from September 1 to December 15 to ease the burden on American consumers ahead of the holiday season.
In announcing the change, Trump contradicted his long-held (incorrect) assertion that the financial burdens of tariffs fall on the country they're placed on, rather than American consumers.
Watch below:
Pres. Trump says he's delaying new China tariffs for the "Christmas season, just in case some of the tariffs would… https://t.co/dtpNVOFQ2j— ABC News (@ABC News) 1565713779.0
Trump said:
"What we’ve done is we’ve delayed it so they won’t be relevant in the Christmas shopping season. Just in case they might have an impact on people.”
They would have an impact on people.
A tariff is essentially a tax on certain goods imported from other companies. In fact, it’s coming from the pocketbooks of American manufacturers, who compensate for the heightened import price by raising prices on American consumers.
Trump has repeatedly claimed that China is paying for the tariffs, casting doubt that he doesn't actually know how tariffs work.
Based on the historic currency manipulation by China, it is now even more obvious to everyone that Americans are no… https://t.co/nXanUnjNXA— Donald J. Trump (@Donald J. Trump) 1565020739.0
....with the U.S., and wishes it had not broken the original deal in the first place. In the meantime, we are recei… https://t.co/iBHxQvWJAu— Donald J. Trump (@Donald J. Trump) 1563187400.0
Trade negotiators have just returned from China where the meetings on Trade were very productive. Now at meetings w… https://t.co/vCyKHfh08p— Donald J. Trump (@Donald J. Trump) 1550362664.0
People were left wondering, just who does Trump think is paying for the tariffs now?
@JenniferJJacobs But I thought Americans didn’t pay tariffs...oh never mind.— JimmyG (@JimmyG) 1565713825.0
@JenniferJJacobs Rhetorical question, did someone finally get through to him how tariffs work?— William I AIN'T Lyon Mackenzie King (@William I AIN'T Lyon Mackenzie King) 1565714951.0
@KellyO @realDonaldTrump Wait. Is he finally admitting that American consumers are actually paying for the tariffs?— Dennis Leyendecker (@Dennis Leyendecker) 1565711890.0
@byHeatherLong @jaketapper Ah, but I thought it was China paying for the tariffs. That's what dear leader said, aft… https://t.co/CkDBDrgJP7— Agent Eckswhy (@Agent Eckswhy) 1565705324.0
@byHeatherLong But China is paying the tariffs. #LyingIdiotinChief— Relentless Rennie (@Relentless Rennie) 1565705167.0
Who even knows anymore?