Trump softens tone as China-US trade tensions flare
US President Donald Trump has unexpectedly adopted a more conciliatory tone after trade tensions between the US and China have escalated in recent weeks.
In a post on the Truth Social platform, the US president wrote: “Don’t worry about China, everything will be fine! The highly respected President Xi has had a bad moment. He doesn’t want a Depression for his country, and neither do I. The US wants to help China, not hurt it!!!”
It remains unclear what prompted Trump to adopt this softer approach.
Trump’s eyes may be turned to US financial markets on the eve of the new business week.
The stock market will be open on Monday, but bond markets will be closed for the Columbus Day holiday.
On Friday, the S&P 500 stock index fell 2.7 percent, its worst day in nearly six months, after Trump threatened to impose 100 percent additional tariffs on Chinese imports and new controls on critical software by Nov. 1.
He also questioned whether the meeting he planned to hold with Chinese President Xi Jinping in South Korea would be held, citing the ongoing trade dispute.
Trump defended his earlier moves, saying China had sent “letters to countries all over the world” announcing export restrictions on rare earths and other materials.
Stating that the move was sudden, the official warned that it could paralyze global trade and harm many countries.
Early Sunday, Chinese officials responded by accusing the United States of double standards and threatening countermeasures.
China’s Ministry of Commerce said, “If the United States stubbornly sticks to its course, China will resolutely take the necessary measures to protect its legitimate rights and interests.” in question.
China has also criticized the United States for abusing export controls, imposing discriminatory measures and unilaterally expanding jurisdiction over products such as semiconductors and computer chips under the guise of national security.
with AP
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