Trump Again Caves on Tariffs: Quiet Please, Genius at Work or Play Favoring China

Look up: Is that the Green Hornet, Superman, Batman 

(Nope: It's Tariffman)

Ho Lee Sheet – is the “Stable Genius” striking up a new friendship chord with this tariff update from USA TODAY — as Trump again delays new tariffs on China – to please his new BFF (right after Kim, Jung-un)?

The increased tariffs on China were scheduled to go into effect October 1 but now will be delayed by two weeks in Trump’s tweet reason: “As a gesture of good will.”

Trump says this came about at “the request of the Chinese Vice Premier, Liu He, and is due to the fact that the People's Republic of China (PRC) will be celebrating their 70th Anniversary.”

Precisely from his tweet: “We have agreed, as a gesture of good will, to move the increased Tariffs on $250 Billion worth of goods (25% to 30%), from October 1^st to October 15^th.”

Related: How tariffs on clothing, TVs, and school supplies could affect you

Here is the list of items impacted: New, higher tariffs could raise the prices of these Chinese-made products

This background up to this point that you may recall:

On September 1, a 15% U.S. tariff went into effect on some of the $550 billion in Chinese imports that the White House hasn't already slapped with levies.

The October tariffs will raise an existing 25% tariff on $250 billion in Chinese imports to 30%.

Many of these items are industrial and intermediate goods that will have less impact on American shoppers.

Finally, it’s not clear how much of the new tariffs will be passed on to American shoppers and how much can be absorbed by U.S. retailers, but at least a portion is likely to result in higher retail prices.

My 2 cents: As I said before, Trump continues to fold like a $3.00 suitcase – greatest deal-maker ever, right? 

I can’t stop laughing. If this is deal making at his best, then I’d hate to see failure.

More later on this – stay tuned. Thanks for stopping by.