After Dow drops, President Trump seeks to reassure investors on China
WASHINGTON – Amid financial market anxiety over mixed signals on Chinese trade talks, President Donald Trump on Wednesday expressed confidence that his team would reach a new deal with China – a day after his self-declaration as "tariff man" spooked investors.
“'China officially echoed President Donald Trump’s optimism over bilateral trade talks. Chinese,'" Trump tweeted, citing a Bloomberg news report on the subject.
Trump later said he did not want "to sound naive or anything," but he believes Chinese President Xi Jinping "meant every word of what he said at our long and hopefully historic meeting" at last week's G-20 summit in Argentina.
The new tweets, which came the day after the Dow Jones Industrial Average fell nearly 800 points, won't have any immediate effect on Wall Street: Markets are closed Wednesday, a day of national mourning for the late president George H.W. Bush.
Very strong signals being sent by China once they returned home from their long trip, including stops, from Argentina. Not to sound naive or anything, but I believe President Xi meant every word of what he said at our long and hopefully historic meeting. ALL subjects discussed!
— Donald J. Trump (@realDonaldTrump) December 5, 2018
“China officially echoed President Donald Trump’s optimism over bilateral trade talks. Chinese officials have begun preparing to restart imports of U.S. Soybeans & Liquified Natural Gas, the first sign confirming the claims of President Donald Trump and the White House that......
— Donald J. Trump (@realDonaldTrump) December 5, 2018
.....China had agreed to start “immediately” buying U.S. products.” @business
— Donald J. Trump (@realDonaldTrump) December 5, 2018
The Dow had spiked up nearly 300 points on Monday, encouraged by Trump's weekend announcement that he and Xi had forged a trade truce. The two agreed to hold off on new tariffs of each other's exports pending renewed talks on an overall agreement over trade rules.
Tuesday's sharp stock fall followed another set of Trump tweets in which he renewed the tariff threat if China did not change its trade restrictions.
"President Xi and I want this deal to happen, and it probably will," Trump said during a tweet storm. "But if not remember ... I am a Tariff Man."
He added: "When people or countries come in to raid the great wealth of our Nation, I want them to pay for the privilege of doing so."
This article originally appeared on USA TODAY: After Dow drops, President Trump seeks to reassure investors on China
