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:
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.
People were left wondering, just who does Trump think is paying for the tariffs now?
Who even knows anymore?
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