President Trump on Thursday afternoon tweeted that US representatives had just returned home from China and had “constructive talks” about trade. Despite those constructive talks, he announced that while talks continue with China there will be a “a small additional Tariff of 10% on the remaining 300 Billion Dollars of goods and products coming from China into our Country. This does not include the 250 Billion Dollars already Tariffed at 25%.”
After the tweet, the Dow traded 300 points lower and US crude oil dropped over $4 a barrel. Trump also tweeted that he looks forward to “continuing our positive dialogue with China on a comprehensive Trade Deal, and feel that the future between our two countries will be a very bright one!” The White House had confirmed earlier in the week that the next round of talks would be held in D.C. in early September.
…buy agricultural product from the U.S. in large quantities, but did not do so. Additionally, my friend President Xi said that he would stop the sale of Fentanyl to the United States – this never happened, and many Americans continue to die! Trade talks are continuing, and…
— Donald J. Trump (@realDonaldTrump) August 1, 2019
…We look forward to continuing our positive dialogue with China on a comprehensive Trade Deal, and feel that the future between our two countries will be a very bright one!
— Donald J. Trump (@realDonaldTrump) August 1, 2019
