Trump postpones decision over trade war with Europe

Ahead of a midnight deadline, President Trump has decided to extend tariff exemptions for European allies — but only for one month, the WSJ first reported and the White House confirmed.

Data: Census Bureau; Chart: Chris Canipe/Axios

The big picture: Trump isn’t just worried about China. The U.S. trade deficit with the EU has grown steadily — something Trump made sure to raise with German Chancellor Angela Merkel last Friday, and which had him considering opening a European front in his trade war.