Senior White House officials are said to be considering options to prevent a Trump-induced recession
that the latest round will cost the average American household $1,000 a year, which is not much more than the tax break they got from the 2017 legislation. “What distinguishes China Phase III tariffs from preceding tariffs is the impact to Consumption and Capital goods whereas previous tariffs focused more on Intermediate goods,” wrote JPMorgan head of U.S. equity strategy“This suggests that the expected consumer impact should be larger in the latest round.
In addition to a possible payroll tax cut, aides are said to be discussing the idea of reversing some of the tariffs,. The White House has disputed both reports, claiming the first measure is not being actively considered, despite apparently drafting a white paper exploring the idea, and that the latter is apparently “hypothetical and not being explored with urgency.
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