Investors were spooked by weeks of severe language from the US president, who suddenly claims he will be “very nice” to China
Following Donald Trump’s announcement that he had “no intention” of replacing Jay Powell, the chair of the US central bank, and that his tariffs on China would be reduced “substantially,” stock markets around the world have increased.
Investors have been alarmed by White House officials’ severe trade rhetoric for weeks, and Trump now seems to be moderating his stance. The president said to reporters in Washington on Tuesday that he would be “very nice” to China in trade negotiations and that, should a deal be reached, both nations’ tariffs may be reduced. “It will come down substantially, but it won’t be zero,” he added.
