Trump said to want China trade deal to soothe markets
January 9, 2019
US President Donald Trump is apparently eager to find a resolution with China over the recent trade dispute in order to give momentum to sliding American markets, White House sources told Bloomberg.
Talks between a US delegation and Chinese officials in Beijing have been extended to a third day, suggesting that the two sides are making some headway in negotiations, as the president said in a tweet.
“Talks with China are going very well!” Trump wrote on Tuesday. Over the weekend he took a similar tone, explaining that China’s domestic economic problems were pushing them to find a deal.
According to the sources, Trump’s bullishness comes from his goal to give markets a boost, following a painful few weeks driven in part by trade war uncertainty. The S&P 500 has dropped around 8% since the G20 summit late November, and certain industries have taken a hit amid weak sales reports from brands like Apple and Samsung.