Tariff Man vs. Dealmaker
The battle between Trump the Tariff Man and Trump the Dealmaker has been playing out for months as tariff deadlines shift and new tariff threats are issued. Don’t bank on Dealmaker.
Since returning to office, the only thing consistent about Trump’s trade policy has been inconsistency. Tariffs are announced, then suspended. Negotiations are conducted. New tariffs are imposed. Deals are reached. New terms are demanded. It’s been a dizzying six months.
What we’re witnessing is a battle between the Two Trumps: Trump the Dealmaker and Trump the Tariff Man. The markets, and many negotiators, are betting that the Dealmaker will win. But as I write in Politico Europe this morning, my bet is on Tariff Man.
As another tariff deadline fast approached, U.S. President Donald Trump once again decided to extend it — this time to Aug. 1.
To many observers, this behavior has become the norm. Indeed, many commentators, analysts and even the markets seem to believe the new August deadline means no more than the ones that came before. “Over the last couple of months, we’ve seen the administration escalate, only to quickly de-escalate, and this could also just be another tactical escalation in some way,” said Wall Street analyst Nadia Lovell.
They’ve even coined a name for it: TACO — Trump Always Chickens Out.
Trump, meanwhile, aware of his reputation, insists this time is different. “TARIFFS WILL START BEING PAID ON AUGUST 1, 2025,” he declared. “No extensions will be granted.”
So, what will it be? Will the U.S. leader blink again in a few weeks? Or will this time really be different?
Read the rest of the article on Politico.eu.