The CEO of the U.S. Chamber of Commerce told CNBC on Tuesday that Trump delayed tariffs in part to avoid a recession during the upcoming 2020 election.
The CEO of the U.S. Chamber of Commerce told CNBC on Tuesday that President Donald Trump delayed tariffs in part to avoid a recession during the upcoming 2020 presidential election.
"Nobody wants to run for president, on either party, in the middle of a recession," Tom Donohue said onEarlier Tuesday, the U.S. Trade Representative announced that new tariffs, originally scheduled to go into effect Sept. 1, for some consumer items. In addition, some products are being removed from the new tariff list altogether due to "health and security factors."avoid impact on Christmas shoppingIn response to a question about how much this postponement is about a possible trade deal between U.S. and China rather than giving American businesses time to adjust, Donohue said this adjustment is "common to the way we've seen the administration work.
The administration tends to "set up a difficult objective, [then] make adjustments going on further based on the way people operate and react and more importantly, [see] how the markets and the political process work."
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