Trump Backs Down on Chinese Tariffs

Terry Pierson/SCNG via ZUMA

This headline probably deserves a Pulitzer prize:

Wiping out America’s soybean farmers? Sure, not a problem. Increasing the price of Christmas gadgets a few percent? No can do.

The political calculation here is pretty transparent. Trump figures that Midwest farmers are going to vote for him no matter what. What’s more, they can be bought off with some targeted subsidies. But suburban soccer moms forced to pay more for their kids’ presents? They were already on the fence and this might push them right over.

Besides, the economy is looking a little iffy these days. A bad holiday selling season is the last thing Trump needs. Once again, it looks like winning trade wars isn’t quite as simple as Trump thought. Who knew?

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