President Trump is going to sign a memo tomorrow Monday delaying actually filing a §301 USTR case against China for violation of U.S. intellectual property rights. By the way he has also failed to follow through on his bullying threats to declare China a ‘currency manipulator’ and to file a §232 case concerning steel from China. Needless to say we all remember his bluster on the campaign trail.

What’s going on? Hard to say. But this practice of over threatening and underperforming is basic to his business dealings forever going back to his early real estate days in New York City.

My take …………… In terms of trade policy President Trump has actually done a lot less damage so far than could have been expected. Actually almost no damage concerning China. Of course this may change. But so far that’s good for the U.S., China and the trading system.

• “Trump to Delay Section 301 IPR Investigation by USTR.” New York Times (8.13.17).
• “Trump to Investigate China Trade Violations.” Washington Post (8.13.17).

• “Trump’s Trade Policy — Crunch Time on Trade.” Financial Times (August 14, 2017).