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Trump Hits China Again as Markets Tumble

Beijing 'should not retaliate,' warns president
By Newser Editors,  Newser Staff
Posted May 13, 2019 6:28 AM CDT
Treasury Secretary Steve Mnuchin, right, and United States Trade Representative Robert Lighthizer, second from right, greet Chinese Vice Premier Liu He as he arrives at the Office of the United States...   (AP Photo/Andrew Harnik)

(Newser) – Will China retaliate? Uncertainty over what happens next in the US-China trade dispute took a toll on markets Monday in both Asia and Europe, reports the Wall Street Journal. Dow futures, meanwhile, suggested the American index would follow suit and open about 250 points in the red, per CNBC, with the S&P 500 and NASDAQ on track for similar-scale drops. All this comes after US and Chinese negotiators left talks without a deal Friday, the same day that President Trump raised tariffs on $200 billion worth of Chinese goods. Trump continued to focus on the dispute on Twitter Monday morning, after doing so over the weekend, too.

On Sunday, he suggested that China wants to wait until after the 2020 election to renegotiate in case a Democrat wins. "They LOVE ripping off America," he wrote. And early Monday, he issued a series of tweets, including: "China has taken so advantage of the U.S. for so many years, that they are way ahead (Our Presidents did not do the job). Therefore, China should not retaliate-will only get worse!" A longer Journal story on the impasse notes that White House economics adviser Larry Kudlow emphasized on Sunday that representatives from the two countries plan to meet again in June at the G-20 summit in Japan. (Kudlow also acknowledged that the dispute could hurt American consumers.)

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