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Seven days: 16 August 2019

Seven days: 16 August 2019

Trump tapping out? 

Donald Trump appears to have backtracked in the US-China trade war, postponing some tariffs on Chinese imports. On Tuesday, he announced that levies on consumer goods – the implementation of which was planned for September – would not be enforced for a further two months. Trump said “we’re doing this for the Christmas season” in case the tariffs impact US consumers. This acknowledgment of the potential domestic effects of his trade war is an about-turn for the president, who has consistently taken a hardline view. The market responded positively, with shares in Apple (US:AAPL) rising 5 per cent.

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