The USTR announced cell phones were a product of grave national security and have subsequently taken them off the Trump tariff list. So instead of forcing Tim Apple to produce phones here, Trump got Les Grossman’d by Tim — flatly told to STFU and to exclude them from his trade war, otherwise he’d go down there and lay down scorched earth on his orange rug. He laid down the law, more or less.
The United States Trade Representative office said Tuesday certain items were being removed from the new China tariff list because of “health, safety, national security and other factors” while tariffs on other items would be delayed until December 15.
The products in the group that will have tariffs delayed include “cell phones, laptop computers, video game consoles, certain toys, computer monitors, and certain items of footwear and clothing,” the USTR said.
Markets were weak. The 2 and 10yr bonds were about to invert. Now we’re up 400 and shorts are getting their faces blown the fuck off — courtesy of Apple — your savior and Lord.If you enjoy the content at iBankCoin, please follow us on Twitter