President Trump's tariff troubles

The latest battle in the trade war with China could affect holiday shopping in the United States.
2:53 | 08/16/19

Coming up in the next {{countdown}} {{countdownlbl}}

Coming up next:



Skip to this video now

Now Playing:


Related Extras
Related Videos
Video Transcript
Transcript for President Trump's tariff troubles
Eight air Rachel Scott her ABC news live in Berkeley Heights New Jersey not far from where president trump is thinking entitling from the White House that is ball but it Bettman there. Headlines this morning that president rob think Christmas or US retailers. Well it comes after this latest battle and an ongoing at the leading trade war with China. The play was for the United States the slap a 10% tariff on 300 billion dollars worth of Chinese good. Well and a tactical retreat at the Ole the president announced that he's the length hair plugs certain goods including laptop the video games and always. Think that the help consumers out. This holiday season. And again those delay is only a fact. Certain items what Abbott that the group has been made but they'll believe will affect about a 160 billion dollars. Worth of Chinese goods but there are still inexpensively as the others that will be affected by the September 1 hike in care and that's that the list. About a 122. Page of the items that are going to be at 10% increase starting September 1. And that list includes agricultural products like beef and pork clothing like tooth you're also gonna see color TVs on there as well as some motorcycles. And all of this is just part of this escalating and growing intensity trade war between the united feet in China we heard of the truck administration hasn't posed. A Tony fat percent tariff on about. 250 billion dollar worth of Chinese goods. We know that the president had initially directed to use this and percent tariff on 300 billion dollar the Chinese goods China reacted. They devalue their currency using it as a weapon. At dropping it to the lowest level that we've seen in more than a decade Wall Street responded last week bet that stock at a low point all you're experiencing what but the worst day is. And every bit to where we are today after the president an out those delays we did beat Wall Street react in a positive way the Dow was up more than 500 and it be point. But it get any relief any celebration that US retailers are consumers or even Wall Street is having. Is temporary there isn't expiration date on these delays that the president prize at the expiration date is December 15. Ten days before Chris Smith. And so while will give US retailer that chance the stock up ahead of the holiday season but those carefully back in the back on the search and good. On December 15. Now after the state of play here we know that the United States and China are still continuing their talks. US and Chinese officials did speak yesterday by found president trump called those talks productive. And there are plans for the few facts that speak again. In two weeks. Reporting a Berkeley Heights New Jersey Rachel Scott ABC news.

This transcript has been automatically generated and may not be 100% accurate.

{"duration":"2:53","description":"The latest battle in the trade war with China could affect holiday shopping in the United States.","mediaType":"default","section":"ABCNews/Politics","id":"65021348","title":"President Trump's tariff troubles","url":"/Politics/video/president-trumps-tariff-troubles-65021348"}