Trump’s ‘Catastrophic’ Tariffs Put on Hold, for Now

He tariffs, he tariffs not. According to Retail Dive, Trump has decided to hold off on imposing tariffs on $300 billion worth of Chinese imports, “for at least the time being.”

Though the tariffs were vehemently opposed by just about the entire retail industry, the decision to delay them was made, according to a Trump press conference, because China agreed* to buy “a tremendous amount of food and agricultural product**,” which would begin “very soon, almost immediately***.”

(*No terms were announced. **’Tremendous’ is not a unit of measurement. ***’Very soon, almost immediately’ is the length of time a waiter says your food is coming in, when they forgot to give your order to the kitchen.)

While there was a startling lack of “details on how much or what types of products” China would be buying, the decision to delay the tariffs is still a relief for both retailers and consumers — who, again, would’ve bore the brunt of the cost — and it indicates some movement in what had been a stagnant process for several months.

“Pulling back from the brink of further tariff escalation is a good sign for retailers and their customers,” said a National Retail Federation press release said.

Of course, Trump could very well change his mind tomorrow – most likely depends on what they talk about on today’s Fox & Friends – so buy those sneakers now, I guess.

You can read more about it at Retail Dive.

[image via]