Trump calls trade war with China 'a little squabble'

US President Donald Trump with China's President Xi Jinping at the end of a press conference at the Great Hall of the People in Beijing in November 2017

Prakash Sakpal, Asia economist at ING in Singapore, said the current volatility showed how a "180-degree" turn in US rhetoric on trade negotiations had spooked markets.

Geng also said Trump should not be misjudging China's determination to fight the trade war till the end.

LONDON, May 14 (Reuters) - World stocks held near two-month lows on Tuesday as slightly more optimistic comments from us and Chinese officials on trade brought some comfort, a day after equities suffered their worst selloff so far this year. "Our working thesis is that we're going to be in for a period of volatility for most the next month as we await the G-20 meeting". "It will always continue", Trump said. Trump wrote that Beijing "had a great deal, nearly completed, & you backed out!"

"We had a deal that was very close and then they broke it".

Most observers have warned a trade war between the world's two largest economies could shatter global economic growth, and hurt demand for commodities like oil.

U.S. President Donald Trump, in a series of tweets posted on the morning of May 14, said the United States economy was well-positioned to succeed despite the trade dispute with China.

The US Trade Representative's office on Monday released a list of another US$300 billion worth of Chinese goods, including children's clothing, toys, cellphones and laptops, that are being threatened with a 25 per cent tariff.

The Dow Jones industrial average rose by 207.06 points, or 0.8 per cent, to 25,532.05 as the S&P 500 gained 22.54 points, or 0.8 per cent, to 2,834.41 and the technology-focused Nasdaq climbed 87.47 points, or 1.1 per cent, to 7,734.49.

WASHINGTON, May 14 (Xinhua) - The U.S. stock market on Monday saw the worst sell-off yet this year in response to the trade tensions with China, after Beijing retaliated against recent U.S. tariffs with tariffs of its own.

"Other countries are already negotiating with us because they don't want this to happen to them". If that takes effect, practically all of China's exports to the United States will be drawn into the trade war.

"China buys MUCH less from us than we buy from them, by nearly 500 Billion Dollars, so we are in a fantastic position", Trump wrote.

No matter what Washington and Beijing decide, "there is an enormous risk in the background that tariffs could come back into play at any moment", he said. The list includes a wide range of consumer goods, from cellphones and computers to clothing and footwear, but it excludes pharmaceuticals, some specialty compounds and rare-earth minerals.

Traders work on the floor at the New York Stock Exchange (NYSE) in New York, U.S., May 14, 2019.

The trade war between the world's two biggest economies is escalating, as China announced it will raise tariffs on $60 billion worth of USA imports, in response to tariffs President Trump levied Friday.

Shares in Europe and NY rebounded yesterday as President Trump struck a more optimistic tone about the prospect of a trade deal between the United States and China.

Some members of Congress who have been supportive of Trump's tough stance on China expressed concern that the president is escalating tariffs without an exit strategy.

For now, while many continue to support Trump, others "are not so sure", according to Will Rodger, head of communications for the American Farm Bureau Federation.

Japan's Topix index rose 0.1% as of 9:05 Tokyo.South Korea's Kospi index dipped 0.1%.Australia's S&P/ASX 200 Index rose 0.2%.

Analyst David Lampton, a fellow at the Stanford Asia Pacific Research Center in Palo Alto, California, said he sees the United States and China as competing to be more than just a dominant economic force.

With the trade dispute heating up, Lachman advised that both sides compromise and meet in the middle, but added that political pressures may play a role.



Latest news

Gopher softball earns No. 7 overall seed in NCAAs
The Tigers and Bruins last met in the postseason at Easton Stadium in the 2015 Super Regionals, which UCLA won 7-4 and 10-6. The Wildcats are a No 14 seed and will open the tourney following the Illinois-Virginia Tech contest in the opener at noon.

GAME OF THRONES Showrunners to Helm Next STAR WARS Film
As their TV epic comes to a close, " Game of Thrones " showrunners David Benioff and D.B. Weiss are already hard at work on Disney's next stage in the " Star Wars " saga.

New dad Prince Harry gets cute gift for baby son Archie
Princess Diana's biographer Andrew Morton suggests Thomas Markle is trying to heal the rift with his estranged daughter Meghan. Prince William joked last week that he welcomed his brother into the "sleep deprivation society" that is parenting.

Trump's lawyer cancels visit to Kyiv, meeting with Zelensky
Trump said it would be "appropriate" to discuss the issue with Attorney General Bill Barr, but said he hadn't done so yet. President Trump criticizes democrat party officials for their soft stance on China.

Full WWE SmackDown Live Match Spoilers From London
Andrade tried to grab the briefcase after the match but Ricochet stopped him and he grabbed it for himself and posed with it. The Usos run out to save the babyfaces and McMahon makes a match. - Backstage, we get quick promos from Paige and Ember.

Other news