Trump says he may wait until after the 2020 election for a China trade deal
The trade war looks to be back on in a big way after a series of pronouncements from President Trump and the White House. The latest: Trump told reporters in London Tuesday he had “no deadline” for a China deal and that he liked “the idea of waiting until after the election for the China deal.” That followed an early Monday announcement that the U.S. would reimpose tariffs on steel and aluminum imported from Brazil and Argentina for “presiding over a massive devaluation of their currencies.” U.S. stocks predictably performed poorly, with the S&P 500 closing 0.9% lower and the tech-heavy Nasdaq dropping 1.1%. “Trump’s tweets suggest a failure to understand how trade flows, exchange rates, or economies function at the most basic level,” Karl Schamotta, chief market strategist at Cambridge Global Payments, told Axios.
Source: Trump says he may wait until after the 2020 election for a China trade deal
