FAST FIVE: China Mocks Trump Tariff Delay As Proof He Is Losing The Trade War
As we said earlier, it is almost as if Trump realized that a surge in prices of consumer goods which would inevitably have taken place had the tariffs kicked in on Sept 1.
US delaying tariffs on products which would send inflation soaring Trump figured out he won't get rate cuts if prices surge – zerohedge (@zerohedge) August 13, 2019 Tuesday's move to hit the pause button in his fight with China came as senior officials on both sides had their first phone conversation since Trump threatened the tariffs at the beginning of this month.
It also cheered markets that had been growing increasingly concerned over the impact of trade tensions on a slowing global economy, and in response, stocks halted a steep two-day slide.
And yet, in the first reactions to Trump's announced tariff delay, this is precisely how China is describing today's event.
Bai Ming, a research fellow at the Chinese Academy of International Trade and Economic Cooperation said that the tariff increase delay shows the US is not willing to cut off the two countries' negotiation channels when talks are on the verge of failure.