Trump Is Considering Removing Some Tariffs For Fear Of Recession
President Trump is considering reversing some of the scheduled tariffs on Chinese goods in an attempt to stave off a feared recession, according to Business Insider.
President Trump already pushed back some of the tariffs from beginning in September to now start in December. Trump administration officials are considering a payroll tax cut if the economic situation should start to decline. Trump has accused the media of exaggerating the prospects of a recession in order to hurt his chances of reelection. However, the Trump administration is taking the economic outlook seriously as they continue to plan and prepare to stave off a coming recession.
Officials were reluctant to admit or take steps to prepare for a recession for fear that their actions would weaken confidence in the US economy and accelerate a downturn.
Officials have not specified which tariffs were being considered for removal in hopes to promote continued economic growth.
