Sign up for our daily briefing
Make your busy days simpler with Axios AM/PM. Catch up on what's new and why it matters in just 5 minutes.
Catch up on the day's biggest business stories
Subscribe to Axios Closer for insights into the day’s business news and trends and why they matter
Stay on top of the latest market trends
Subscribe to Axios Markets for the latest market trends and economic insights. Sign up for free.
Sports news worthy of your time
Binge on the stats and stories that drive the sports world with Axios Sports. Sign up for free.
Tech news worthy of your time
Get our smart take on technology from the Valley and D.C. with Axios Login. Sign up for free.
Get the inside stories
Get an insider's guide to the new White House with Axios Sneak Peek. Sign up for free.
Catch up on coronavirus stories and special reports, curated by Mike Allen everyday
Catch up on coronavirus stories and special reports, curated by Mike Allen everyday
Want a daily digest of the top Denver news?
Get a daily digest of the most important stories affecting your hometown with Axios Denver
Want a daily digest of the top Des Moines news?
Get a daily digest of the most important stories affecting your hometown with Axios Des Moines
Want a daily digest of the top Twin Cities news?
Get a daily digest of the most important stories affecting your hometown with Axios Twin Cities
Want a daily digest of the top Tampa Bay news?
Get a daily digest of the most important stories affecting your hometown with Axios Tampa Bay
Want a daily digest of the top Charlotte news?
Get a daily digest of the most important stories affecting your hometown with Axios Charlotte
Want a daily digest of the top Nashville news?
Get a daily digest of the most important stories affecting your hometown with the Axios Nashville newsletter.
Want a daily digest of the top Columbus news?
Get a daily digest of the most important stories affecting your hometown with the Axios Columbus newsletter.
Want a daily digest of the top Dallas news?
Get a daily digest of the most important stories affecting your hometown with the Axios Dallas newsletter.
Sign up for Axios NW Arkansas
Stay up-to-date on the most important and interesting stories affecting NW Arkansas, authored by local reporters
Photo: Saul Loeb/AFP/Getty Images
Friday marked a cool down on the non-China trade war front, providing a glimmer of hope that the global economy can avoid the worst-case scenario of global trade wars.
Driving the news: The White House delayed its auto import tariffs for 6 months, which would have hit Japan and Europe especially hard. The U.S. is also preparing to lift its steel and aluminum tariffs that Trump imposed on Mexico and Canada. The three will focus on preventing cheap imports to North America, the U.S. and Canada said in a joint statement.
Why it matters: It's really hard to manage a worldwide trade war without blowing up the stock market or causing political chaos.
- A source familiar with Trump’s thinking told Axios' Jonathan Swan he knows that neither Congress nor the markets will tolerate a multi-front trade war right now.
- "United States officials believed it was not the right time to pursue the tariffs, given fractious trade negotiations with China, which have nearly collapsed, as well as a continuing effort to pass the revised North American trade agreement into law." [NYT]
The other side: China is making clear its intent to fight a prolonged trade war with the U.S.