Trump’s Trade-War Retreat Only Buys a Little Time
Delaying some tariffs takes some of the heat off the economy, but not much.
President Trump high-tails it out of his own trade-war escalation.
Photographer: Leon Neal/Getty Images EuropePresident Donald Trump says trade wars are good and easy to win, but his most effective tactic so far seems to be retreat.
Just 11 days after threatening new tariffs on $300 billion worth of Chinese imports, Trump said he would delay import taxes on toys, electronics and other holiday-gift-type stuff until mid-December. Stocks rewarded him by recovering some of the losses he inflicted 11 days ago. This is ostensibly a reprieve for American consumers (and, incidentally, puts the lie to Trump’s claim China bears the full brunt of tariffs). But America’s retailers aren’t exactly giddy with relief, writes Sarah Halzack. Yes, their Christmas season will not be completely Grinched. But plenty of Chinese stuff is still subject to duties. And the uncertainty Trump creates with his trade-war “strategy” – as steady as an army of grenade-toting squirrels on roller skates – is bad for business.