From CBSNews.com:
Stocks surged Tuesday morning on news that the Trump administration would delay tariffs on some Chinese imports until Dec. 15.
The Dow gained more than 400 points, or 1.7%, rising to 26,339 at 10:40 a.m. Eastern Time. The S&P 500 stock index gained 1.8% and the tech-heavy Nasdaq composite rose 2.4%.
The U.S. Trade Representative said the new tariffs of 10%, due to kick in on Sept. 1 would be delayed until mid-December on cell phones and other electronics products as well as some kinds of toys, shoes and clothing.
The Trump administration is slowly realizing what a loser their tariffs are. Now that farmers are complaining so much that admin officials are calling the farmers “whiners”, we can see how desperate the Trump administration is becoming regarding the tariffs.