U.S. Blinks by Delaying China Tariffs

Written by Staff Writer

Donald Trump 25218642186Trump just blinked, giving China a possible edge in trade war -CNBC
"In backing off on tariffs Tuesday, President Donald Trump showed just how much pain the U.S. could tolerate, key voices on Wall Street say - and China may use that to its advantage. Markets rallied on the the U.S. announcement that certain items were being removed from the new China tariff list, while tariffs on others would be delayed until December....

Some investors took Tuesday's announcement as a sign that the trade war was indeed hurting consumers. The products in the group exempt from tariffs include cell phones, some apparel, and video games - all of which are crucial to the U.S. consumer market. China meanwhile, has not publicly backed off. It announced last week that it would stop buying U.S. agricultural products as its latest weapon in the tariff battle and has retaliated with its own tariffs on U.S. goods. It also set off more worries about the trade war on Friday by letting its currency weaken....'The White House is now delaying the tariffs and removing some items. Did some acronym called the SPX cause someone to blink?,' David Rosenberg, chief economist and strategist at Gluskin Sheff & Associates, said in a tweet."