A potential trade war between the United States and its two neighbors has been thwarted for now, though the U.S.-China status remains murky after both parties implemented tariffs on Tuesday, their leaders yet to speak with one another as of late afternoon.

In postponing some threatened tariffs but not others, U.S. President Donald Trump is sowing uncertainty for businesses and consumers in his own country and abroad. His tactics could score some wins, but also carry big risks.

The tariffs, if sustained, could cause inflation to significantly worsen, threatening the trust that many voters placed in Trump to lower prices.