According to a report at Business Insider, Donald Trump's administration is rolling back some proposed tariffs, that were a part of his greater trade war with China, after manufacturers came hat in hand looking for relief.
On Friday, as consumers kicked off the holiday buying season, manufacturers were notified that the government would "shield dozens of products from steep import tariffs it levied against China last year."
The report notes that roll-backs are an acknowledgment that the tariffs are having a deleterious effect on consumers and manufacturers alike at a time when the economy is struggling.
"Lollipops, vacuum cleaners, table lamps, bicycles, outdoor tables, canoes, cots, and more would be excluded from the tariffs implemented on $200 billion worth of Chinese products in September 2018, the Office of the US Trade Representative said. In May, Trump more than doubled the tax rate on those imports to 25%, " the report states. "Thousands of companies have requested relief from those measures, warning the Trump administration that they could eventually force them to raise prices or slash jobs."
Business Insider notes that the roll-backs are also being done with one eye on the 2020 elections, with the president needing a strong economy to boost his re-election prospects -- particularly in light of his ongoing impeachment problems
"China threatened countermeasures against the US over the weekend after Trump signed into law a bill that backed pro-democracy demonstrators in Hong Kong, casting doubt on the first part of an interim trade agreement that was announced in October" the report notes. "The terms of that have still not been put to paper."
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