Trump said he was ready for a "historic" deal with China as the leaders kicked off their meeting and Xi told him "dialogue" was better than confrontation
AFP / Brendan Smialowski
On Tuesday, the Los Angeles Timesreported that President Donald Trump's Office of the U.S. Trade Representative is once again delaying the enactment of most of his threatened tariffs on China.
The tariffs, which would have amounted to 10 percent on some $300 billion in Chinese goods, were scheduled to go into effect on September 1. They would have applied to electronics, toys, and clothing.
The Trump administration's decision comes as business leaders and economists have been warning that recession indicators are growing stronger — and that implementation of Trump's tariffs, and even just the uncertainty around whether they will happen and what the rate will be, has made a downturn within the next year more likely.
In recent months, Trump has made tariff threats against various countries, only to back down or move back the date of implementation as businesses balk.
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