How to allow tags in the excerpt?

I have been trying to allow the links from post to be shown on the excerpt as normal, clickable etc. But the tags seems to be stripping out, so i tried this

function customx_trim_excerpt($text = '') {
	if ( '' == $text ) {
		$text = get_the_content('');

		$text = strip_shortcodes( $text );

		$text = apply_filters('the_content', $text);
		$text = str_replace(']]>', ']]>', $text);
		$excerpt_length = apply_filters('excerpt_length', 55);
		$excerpt_more = apply_filters('excerpt_more', ' ' . '[…]');
		$text = wp_trim_words( $text, $excerpt_length, $excerpt_more );
                $allowed_tags = '<p><a><em><strong><img>';
	}
	return $text;
}

but it seems as though I am doing something wrong with this function