Former President Donald Trump stated that the United States would “love to be able to work a deal” with China, as financial markets faced another downturn. Trump’s remarks come in light of escalating trade tensions, particularly following Beijing’s recent decision to increase retaliatory tariffs on American goods to 84%.
In a press conference, Trump expressed respect for Chinese President Xi Jinping, suggesting that he believed the two nations could “end up working something out that’s very good for both countries.” Through it all, Trump remained sanguine about reaching a positive settlement, despite all the shark-infested waters hedge Trump found himself in. He boldly claimed that investors were pleased with the course the U.S. is charting.
“Everybody wants to come and make a deal,” Trump remarked, highlighting the growing interest from various countries in negotiating trade agreements with the U.S. He noted that investors were “trying to get the world to treat us fairly,” a sentiment echoed by Commerce Secretary Howard Lutnick during a recent meeting.
Lutnick reinforced Trump’s statements, revealing that numerous countries were approaching the U.S. with proposals they previously would not have considered. Yet still, he was very much in tune with Trump’s idea that China was ‘playing’ the U.S. He’s right that China has “ripped off” American interests “more than anybody” for a long time.
The comments were super positive for a tough day on the market — where titans of industry, like Apple and Amazon, lost hundreds of billions in market cap. Warner Bros Discovery stock dropped 14% and both Amazon and Apple were down 7%. These losses came in the context of pronounced unpredictability about international trade policy and relations.
“It was the biggest day in history in markets,” Trump claimed, reflecting his perspective on the current financial climate, albeit in a time of market instability. As this story liberates, millions of investor eyes remain tightly focused. They are eagerly eyeing possible outcomes from the diplomatic thaw apparently underway from the U.S.-China diplomatic exchanges.
Commerce Secretary Lutnick projected optimism about future negotiations, asserting, “I think you’re going to see historic deals one after the other.” In addition, engage personally with the administration to help them understand that fruitful trade agreements await. Despite the turmoil inflicted upon the business community by last quarter’s tariff escalation, they’re still hopeful.
Leave a Reply