The global elite in Davos woke up Tuesday breathing a sigh of relief after President Donald Trump concluded his first day in office only talking about trade wars rather than starting any.
Bloomberg) — The global elite in Davos woke up Tuesday breathing a sigh of relief after President Donald Trump concluded his first day in office only talking about trade wars rather than starting any.
But just how long the world’s most effusive tariff salesman will hold fire is anyone’s guess — and the chief executives and investor class gathered in the Swiss mountain resort town are bracing themselves.
“Even when I was there eight years ago, there was always a heavy debate on tariffs — on the positives and the negatives of tariffs, on the intended consequences, unintended consequences,” Gary Cohn, IBM Corp. vice chairman and Trump’s former National Economic Council director, said Tuesday on Bloomberg TV. “Look, it’s day one of a four-year administration. You don’t have to put tariffs on day one.”
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Source: https://financialpost.com/pmn/business-pmn/davos-takes-a-deep-breath-as-trump-holds-off-starting-trade-wars
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