WATCH – Trump backs down AGAIN: The President postpones new tariffs on China until after Holiday season

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The Trump administration announced on Tuesday that it will delay until mid-December the 10% tariff on some Chinese products. “We’re doing this for Christmas season, just in case some of the tariffs would have an impact on U.S. customers,” he told reporters Tuesday.

It also came after financial markets reeled for several days over fears that there was no end in sight for the ongoing trade war, and economists had been sounding alarms, raising their odds that the record-long U.S. economic expansion would grind to a halt next year.

The delay in tariffs, welcomed as it was by U.S. retailers and financial markets, marked the latest maneuver in a now-familiar pattern that has seen Trump turn up the heat on China by threatening tariffs, pulling back as stocks falter and then eventually ratcheting up the taxes when talks fail to deliver what he wants.

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