"The president shared his latest thoughts on trade with China in a Truth Social post around lunchtime: Don't worry about China, it will all be fine! Highly respected President Xi just had a bad moment. He doesn't want Depression for his country, and neither do I. The U.S.A. wants to help China, not hurt it!!! President DJT His update comes two days after the president said he would be slapping a new 100% tariff on China."
"Wall Street clearly did not love that news from Trump on Friday, with the S&P 500 dropping 2.71%, the Nasdaq dropping 3.56%, and the Dow Jones dropping 1.90%. Those sharp drops were reminiscent of the market taking a big hit in early April, when the president announced his Liberation Day tariff plan. The markets have since shrugged off those initial concerns, with the three major indexes all surging between 13% to 32% in the last six months."
President Donald Trump signaled a full-blown trade battle with China will not happen and expressed respect for President Xi Jinping. Trump posted on Truth Social urging calm and saying the United States wants to help China rather than hurt it. The update followed his prior announcement of a planned 100% tariff on China starting Nov. 1, layered atop existing 30% tariffs, after China tightened rare earth mineral export rules. U.S. markets reacted sharply to the tariff news with sizable drops in the S&P 500, Nasdaq and Dow Jones, though indexes have rebounded strongly over the past six months. Vice President JD Vance said Trump is open to negotiated deals and said the U.S. has more leverage.
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