Davos takes a sigh of relief as Trump holds off starting trade wars

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Davos takes a sigh of relief as Trump holds off starting trade wars - Business Standard

Quick Summary:

Trump struck a more collaborative tone toward Beijing and wouldn’t commit to imposing duties on the second-largest economy even after he promised it on the campaign trail.

Trump’s pronouncement Monday night that he was “thinking” about putting tariffs of 25% on Mexico and Canada, possibly by Feb.1, is leaving open the question how much this is a negotiating ploy to extract early concessions out of the nation’s top trading partners.

The global elite in Davos woke up Tuesday breathing a sigh of relief after President Donald Trump concluded his first day in office only talking about trade wars rather than starting any.