The Trump administration is considering reversing some of US President Donald Trump's trade tariffs as one of numerous possible measures meant to stave off a feared recession, The New York Times reported Monday.

Also Monday, The Washington Post said some Trump administration officials were considering proposing payroll tax cuts should the economic situation in the US worsen.

Trump has publicly accused opponents and the media of exaggerating the prospects of recession to damage his chances of reelection in 2020, though the reports indicate the White House is taking the forecasts seriously.

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The Trump administration is considering reversing some of US President Donald Trump's signature tariffs against China as one of a range of measures that would be meant to protect a weakening US economy from recession, The New York Times reported late Monday.

In public, Trump and senior administration officials have been bullish about the prospects for the US economy following signs in the bond market last week that could herald a coming recession.

It was reported last week that officials were reluctant to prepare for recession amid fears that doing so could weaken confidence in the US economy and hasten a downturn.

But according to The Times, officials have privately weighed several measures that would be meant to boost the economy should the economic situation worsen.

Read more: Trump is convinced there is a conspiracy to distort economic data and exaggerate the prospect of recession

The Washington Post first reported on Monday that a payroll tax cut was being considered, a possibility a White House official told Business Insider was not on the table.

Other moves could involve scaling back some of Trump's signature tariffs, The Times reported. Trump has imposed tariffs on hundreds of billions of dollars' worth of Chinese goods and attacked European Union goods, albeit to a lesser extent, in a move to punish rival economies he claims are exploiting the US.

The Times did not specify which tariffs officials were considering withdrawing, and the White House did not immediately respond to a request for comment from Business Insider.

Trump and Chinese President Xi Jinping. Oliver Contreras/Getty; Greg Baker/Getty; Shayanne Gal/Business Insider

Some economists cite Trump's trade war with China, which has seen the US impose tariffs on $300 billion worth of Chinese goods, as among the causes of the economic instability.

The move is believed to have slowed down China's economy and pushed Germany — Europe's biggest economy — to the brink of recession.

Read more: Trump administration officials are said to be considering a tax cut for millions of workers in a bid to boost the economy and stave off recession fears

Economic experts have long warned that tariffs threaten US consumers, with a JPMorgan report on Monday estimating that the latest round of tariffs, set to take effect beginning in September, would cost the average US household $1,000 a year.

Trump has publicly maintained that it is China that will bear the greatest cost of his trade war, but he is facing increasing pressure to close a new trade deal with the world's second-biggest economy.

Though Trump has insisted that warnings of a recession have been concocted by opponents and the media, the president delayed imposing some of the latest China tariffs until December 15 after advisers reportedly warned him that it would "ruin Christmas" for many US consumers because of the knock-on effects on the price of goods in shops.