The latest batch of tariffs, however, are on items that are directly obvious to customers in stores, including clothing, shoes, phones, video games and practically every item on or under a Christmas tree.  Trump’s latest move is likely to have been a shock to most observers. In fact, I had bets going with a wide range of people that Trump would not make it out of August without imposing tariffs on the so-called “List 4” products.  Most argued I was crazy.  Trump, they said, would not escalate the trade war at this time.  He would most likely bide his time until next year, engaging in trade talks with China with just enough enthusiasm to say that he was working on the problem, but not enough to solve anything too soon before the election.  Voters can have short attention spans and an early resolution of the China problem would not give him an electoral bounce in November 2020. The List 4 hearings in Washington in mid-June involved hundreds of companies across seven days and nearly 3000 submissions.  Nearly all were united in arguing against more tariffs on China and about the damage to be done by imposing tariffs on the remaining products, which had been carved out of the previous tariff policies for good reasons.  But I thought Trump would ignore this advice.  Hearings in Washington took place already, clearing the way for the imposition of tariffs at any point. To expect Trump not to impose them was like asking a child not to play with an exciting new toy that has been placed within reach.