Launceston, Australia — US President Donald Trump has inadvertently admitted that the US no longer holds the whip hand in the ongoing trade dispute with China, after backtracking on his latest escalation of the tariff war.
"We're doing this for Christmas season, just in case some of the tariffs would have an impact on US customers," Trump told reporters in New Jersey. It also further emphasises to Beijing that the Trump administration is fundamentally an unreliable negotiating partner, subject to rapid shifts in policy and sentiment.
China could also try to dial back tension by suspending its ban on importing US agricultural products, and by signalling a willingness to restart purchases of energy commodities, such as crude oil, liquefied natural gas and coal. The risk here is that as the US economy starts to feel more pain, Trump will double down and escalate the trade conflict even further.
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