Did President Donald Trump outfox the world with his tariff plan?

Maybe, according to Torsten Sløk, the chief economist at Apollo Global Management.

On Saturday, Sløk published a blog post titled “Has Trump Outsmarted Everyone On Tariffs?” In it, he explains a possible scenario in which Trump keeps tariffs below his highest threatened rates just long enough to ease uncertainty and avoid the economic pains that would come with massive tariffs.

“Maybe the strategy is to maintain 30% tariffs on China and 10% tariffs on all other countries and then give all countries 12 months to lower nontariff barriers and open up their economies to trade,” he wrote.

Read the article.