Trump tweets trade war update with China

President Donald Trump spoke with Chinese President Xi Jinping on Thursday ahead of their scheduled meeting next month at the G-20 summit in Argentina.

Based on the president’s reaction on Twitter to the conversation, there is some hope that the trade war between the world’s two largest economies will subside in the coming months.

President Trump tweeted that the conversation was “very good” and while it focussed on trade, North Korea was also discussed:

“Just had a long and very good conversation with President Xi Jinping of China. We talked about many subjects, with a heavy emphasis on Trade. Those discussions are moving along nicely with meetings being scheduled at the G-20 in Argentina. Also had good discussion on North Korea!”

That tweet alone caused the Dow Jones stock to jump 120 points, showing the potential for a huge United States economic boom should the trade war actually come to an end and tariffs are removed by both sides.

Despite the president’s tweet, his economic adviser Larry Kudlow said the details for the meeting between President Trump and President Xi are still being worked out.

“The agenda is being discussed and worked on inside both camps,” Kudlow told The Washington Post. “I think it will include trade, I’m not 100 percent sure.”

The trade war with China has already covered some $250 billion worth of Chinese goods, all from tariffs ranging from 10 to 25 percent. A Bloomberg report citing an anonymous source suggested that if next month’s meeting with China did not go well, President Trump would announce an additional $257 billion worth of tariffs.

Neither side wants this, and for the sake of the American and Chinese economies, all eyes are turned toward the two leader’s Buenos Aires meeting set to take place Nov. 30 to Dec. 1.


Leave A Reply

Your email address will not be published.

You might also like