Good afternoon. There's 22 days until Christmas.
Photo: Xinhua/Li Xueren via Getty Images
With nothing that we know of in writing, the U.S. has allowed the Chinese to further delay harsher new tariffs for a big chunk of President Trump's remaining first term.
Driving the news: Based on Larry Kudlow's comments to media today, the 90 day "ceasefire" that Trump announced this weekend will run until April 1, rather than March 1.
Why it matters: "Trump and Kudlow seem to think that pre-announcing a 0% tariff on Twitter and in the press is a constructive negotiating tactic," Axios' Felix Salmon emails. "Few trade negotiators would agree with them."
Between the lines:
The bottom line: The market isn't treating this as a breakthrough. The Dow is up roughly 300 points since the weekend, rather than the major upswing you'd expect with a deal.
Go deeper: How December could define Trump
Above: The body of President George H.W. Bush is carried to Special Air Mission 41 by a military honor guard before flying to D.C. from Houston.
Below: Sully, Bush's yellow Labrador retriever service dog, walks through Joint Base Andrews en route to D.C.
"Can You Like the Person You Love to Hate?" [N.Y. Times writer and opinion editor] Bari Weiss and [Vice politics writer] Eve Peyser were Twitter enemies. Then they met."