UBS On-Air: Paul Donovan Daily Audio 'Retreat repeat'

US President Trump again retreated from imposing aggressive taxes on US consumers. Although taxes on goods from Mexico and Canada are in theory delayed for a month, after three retreats in a row markets are unlikely to take that threat seriously. US consumers would have been visibly affected by these taxes—even Republican senators became aware that tariffs are paid by their constituents and not foreigners, and tweeted pleas for exemptions.