Trump again delays his trade war escalation as fears of a recession grow

On Wednesday, President Donald Trump tweeted that he was once again delaying an increase in tariffs on China.

"At the request of the Vice Premier of China, Liu He, and due to the fact that the People’s Republic of China will be celebrating their 70th Anniversary........" he wrote. "On October 1st, we have agreed, as a gesture of good will, to move the increased Tariffs on 250 Billion Dollars worth of goods (25% to 30%), from October 1st to October 15th."

The president's announcement comes after a long string of critical news coverage of his economic policies, and fears from market analysts that the president's trade war could stoke a recession by costing jobs and raising consumer prices.