China just extended its tariff truce with the US for another two months. That makes this the, what, fourth extension? Fifth? Nobody’s counting anymore because counting implies it might stop, and it won’t. The 24% tariff stays suspended until January, the 10% stays in place, and both sides get to pretend this rolling game of keep-away is a negotiation. It’s not. It’s two governments too proud to admit they broke international trade and too scared to finish breaking it.
Meanwhile the people who actually buy things just keep paying more. The Section 301 exclusions expire today too, which means thousands of US importers woke up this morning not knowing what their cost of goods will be next week. That’s not dealmaking. That’s hostage diplomacy with the receipt going to your grocery bill. Trump turned the global supply chain into a slot machine, and every two months he pulls the lever again and calls whatever comes up a win. The house always wins, obviously. The house just isn’t your house.