War’s Declining Options WPI is not the only observer that President Trump blinked when he postponed his threatened imposition of additional tariffs, and President Xi Jinping obviously senses it as a point of weakness to exploit. This was evidenced by Beijing’s refusal to concede any goodwill concessions in return as well as the lack of a scheduled resumption in bilateral negotiations. Treasury’s data informed Mr. Trump over last weekend that he needed to back off on his tariff threat amid the primary goal of avoiding a recession going into 2020. The economy could stabilize, but what if there is a recession anyway? Mr. Trump is predictable in some ways and unpredictable in others, and so the following are theoretical scen...

TAGS – Biofuels, China, Europe, North America, South America