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Will Trump’s tariff climbdown save the US from recession?

Boxes of various Kellogg's cereals are displayed on shelves at a Walmart Supercenter on May 06, 2025 in Austin, Texas. WK Kellogg Co lowered its sales outlook after reporting a 2 to 3 percent decline in its first-quarter revenue. The company has attributed part of the decline to recent Trump administration tariffs.
Photo: Brandon Bell / Getty Images

The Financial Times

9 min read
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Markets cheered the deal with China. But away from Wall Street, confidence is plummeting and prices are on the rise.

20 May, 2025 by Claire Jones in Washington, Sam Fleming and Joseph Cotterill in London and Gregory Meyer in New York

For Stonemaier Games, it will be a roll of the dice whether the US-China trade truce can save Christmas.

President Donald Trump’s deal with Beijing last week came just in

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