Trump says China has totally violated its | Political News
President Donald Trump declared Friday that China had “totally violated its” preliminary commerce settlement with the United States and threatened to retaliate.
“Two weeks ago China was in grave economic danger! The very high Tariffs I set made it virtually impossible for China to TRADE into the United States marketplace which is, by far, number one in the World. We went, in effect, COLD TURKEY with China, and it was devastating for them,” Trump wrote on Truth Social.Everybody was comfortable! That is the excellent news!!! The dangerous information is that China, maybe not surprisingly to some, HAS TOTALLY VIOLATED ITS AGREEMENT WITH US. So a lot for being Mr. NICE GUY!”
Stock futures dropped Friday morning following Trump’s remarks. In a Friday morning interview with CNBC, U.S. Trade Representative Jamieson Greer repeated Trump’s claim that “we’re very involved with” China’s alleged non-compliance with the momentary commerce settlement.
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Greer acknowledged, “The Chinese are gradual rolling their compliance, and the United States did precisely what it was supposed to do.”
“That is totally unacceptable and wants to be addressed,” he said.
In an interview with Fox News on Thursday, Treasury Secretary Scott Bessent stated that trade negotiations with China “are a bit stalled.” On May 12, the US and China decided to suspend the majority of the tariffs placed on each other’s goods for 90 days.
The deal was achieved after China replied in kind after Trump imposed exorbitant taxes on Chinese shipments into the United States.
Two days after he yelled at CNBC reporter Megan Cassella at the White House for bringing up the phrase “Trump Always Chickens Out,” or “TACO commerce,” Trump posted his rant.
The phrase, which was created by a columnist for the Financial Times, implies that stock pickers can profit by purchasing shares after markets decline due to news of Trump’s proposed tariffs, knowing that he will almost certainly halt or lower the duties, which will raise markets.
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