I think there’s a good chance that Trump will postpone or temporarily suspend the tariffs to allow room for negotiations. The market will likely view this as a positive sign, at least in the short term. However, China will likely be excluded. What Trump wants from China right now is not retaliation through 50% tariffs—he wants them to call him first. He actually wants to make a deal with China, and while that may sound counterintuitive, he won’t make the first call as for him this is a sign of weakness. This analysis is based on my research into NPD.