With #TrumpRecession trending on Twitter, a source close to President Trump told Axios, “I’m very worried about the latest economic data. A lot of us are concerned. Without the narrative on the economy, he can’t win.”
The big picture: A senior administration official said the administration was getting a lot of blowback from retailers who were worried about the China tariffs coming in September. The delay until Dec. 15, announced this week, was to stave of these concerns, the source said.
When Commerce Secretary Wilbur Ross said on CNBC it was to help consumers for Christmas, he let the cat out of the bag: Tariffs hurt consumers.
If Trump were correct that China pays the entirety of his tariffs, as he has repeatedly claimed, why would the commerce secretary say the decision to delay tariffs was made to protect U.S. consumers for holiday shopping?