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Trump says China trade talks moving along nicely, but deal has to be right

Stock MarketsNov 09, 2019 02:40PM ET
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WASHINGTON (Reuters) - U.S. President Donald Trump said on Saturday that trade talks with China were moving along "very nicely," but the United States would only make a deal with Beijing if it was the right deal for America.

Trump told reporters at Joint Base Andrews before leaving for a visit to Tuscaloosa, Alabama, that the talks had moved more slowly than he would have liked, but China wanted a deal more than he did.

"The trade talks with China are moving along, I think, very nicely and if we make the deal that we want it will be a great deal and if it's not a great deal, I won't make it," he said.

"I'd like to make a deal, but it's got to be the right deal," he said.

"China very much wants to make a deal," Trump added. "They're having the worst year they've had in 57 years. Their supply chain is all broken, like an egg, they want to make a deal, perhaps they have to make a deal, I don't know, I don't care, that's up to them."

Trump said there had been incorrect reporting about U.S. willingness to lift tariffs, which he said had brought in tens of billions of dollars for the United States and soon "literally hundreds of billions of dollars."

"There was a lot of incorrect reporting, but you will see what I'm going to be doing," he said.

"There's a difference on tariffs, but we can always get tariffs," he said.

"The level of tariff lift is incorrect," Trump said in reference to news reports. He did not elaborate.

Officials from both countries said on Thursday that China and the United States had agreed to roll back tariffs already in place on each others' goods in a "phase one" trade deal to end a damaging trade war, but the idea has been met with stiff opposition within some quarters of the Trump administration.

On Friday, Trump, in comments that hit stock prices and the dollar, said he had not agreed to a tariff rollback. "I haven't agreed to anything," he told reporters then.

Trump says China trade talks moving along nicely, but deal has to be right
 

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Comments (22)
Hong Huang
Hong Huang Nov 10, 2019 8:28AM ET
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China will be just like another Japan!
Ruixuan CHANG
Ruixuan CHANG Nov 10, 2019 7:51AM ET
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maybe a dump? who knows
TA XVCI
TA XVCI Nov 10, 2019 7:03AM ET
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What comes after a pump?
George Jetson
George Jetson Nov 10, 2019 7:03AM ET
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more pumping!
Alex Gaitan
Alex Gaitan Nov 10, 2019 5:56AM ET
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Can we please get this deal done, this is obviously just a game, you cant have a " so called trade deal " going on for this long, this is absurd!! Such a joke, this market is a joke!
Anthony Lisi
Anthony Lisi Nov 10, 2019 5:49AM ET
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If we had a reasonable president id say we’ll have a deal and tariff roll backs. I do not believe we have a reasonable president so most likely no deal and more tariffs. Buy some VIX call spreads people can hedge or speculate. With this president anything goes be prepared for at least a little volatility soon.
Al Vlaj
alvlaj Nov 10, 2019 5:36AM ET
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This is coming from the guy who tweeted in June 2018 that “North Korea is no longer a nuclear threat.” He made NK much stronger and validated them as a country. He made China much stronger by abandoning TPP and is now caving to China. Worst negotiator in presidential history. And the whole world is watching and laughing.
Kim Andreasen
Kim Andreasen Nov 10, 2019 5:34AM ET
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Tariffs bringing in hundreds of billions of dollars? Tariffs are at maximum 25% over the past year on less than the entire import from China. He really should go to school again as his math doesn't sum up. LOL
Al Vlaj
alvlaj Nov 10, 2019 5:34AM ET
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Haha! Why stop there? I think the US will bring in hundreds of trillions of dollars on tariffs. Haha! What a joke.
Junk Man
Junk_Man Nov 10, 2019 4:40AM ET
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At the end of the day, no deal... Unless the market begins to fall...
Kim Andreasen
Kim Andreasen Nov 10, 2019 4:40AM ET
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So no matter what, stocks will keep rising due to "progress in the trade talks" or driven by a deal, if stocks starts to weaken combined with further easing from centralbanks to bolster the economy. In that perspective I understand why people don't really see risks in stocks. In the short term at least. Longer term (> 3 months) is another story.
Anthony Anthony
Anthony Anthony Nov 10, 2019 4:27AM ET
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most of the people are too $tupid to understand who is paying for tariff. One thing for sure, not china.
Zack Persie
Zack Persie Nov 10, 2019 3:16AM ET
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As usual, Trump spewing rubbish. China is not paying billions in tariff. US importers & consumers are paying for Trump's tariff, which Trump then channeled to his supporters base, farmers. US consumers got shafted real good by Trump's scheme. While Trump makes his supporters feel good telling them what they want to hear... however nonsensical they actually are..., Trump is making US consumers pay for it.
Zia Ul Qamar
Zia Ul Qamar Nov 09, 2019 11:13PM ET
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Monday Deal happening, Tuesday Deal Not happening, Wednesday Deal Delayed, Thursday Deal going nicely, Friday Deal will be delayed then repeat every week
Buzzy Jefferson
Buzzy Jefferson Nov 09, 2019 11:13PM ET
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Welcome to dealing with the Chinese.
Kwong To
Kwong To Nov 09, 2019 11:13PM ET
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Wat do u expect when you are dealing with a Dotard white supremacist
Patryk Sl
Patryk Sl Nov 09, 2019 9:42PM ET
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"China wanted a deal more than he did" hahahahahh
Yezno Noyez
Yezno Nov 09, 2019 9:42PM ET
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China is one who needs it so yeah.
Chic Surinthum
Chic Surinthum Nov 09, 2019 8:21PM ET
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That affect to vote next year
Brute R Nine
Brute R Nine Nov 09, 2019 7:28PM ET
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None of that is going to happen. He had a 1% chance of beating Hilary according to people like you. Fact is he will win even bigger this time thanks to your impeachment fraud. But Trump does need a trade deal before the election for sure and he knows it.
Buzzy Jefferson
Buzzy Jefferson Nov 09, 2019 5:45PM ET
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If the Chinese weren't 5 year olds, we would have made a deal long ago. The Chinese know they can't survive without cheating and stealing. They know that no deal gets done until they codify enforceable 20th century changes to their system. They are in a tough spot. If they play by the rules of the rest of the world, they lose. If they keep trying to play the goofy Chinese negotiation game, they lose. Meanwhile, their young people can't get jobs, Hong Kong is on fire, and sourcing relationships are vanishing that will never return. The world has been ready for an opportunity to get the ******out of there. They all owe President Trump a huge thank you.
David David
David9 Nov 09, 2019 5:45PM ET
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Trump is pretty much done ... either he gets impeached, quits by March, or get slam in the election. That's it.
Kwong To
Kwong To Nov 09, 2019 5:45PM ET
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Stop printing your dud dollars to buy goods cheaply and the world will take you seriously.
Benjamin McIntire
Benjamin McIntire Nov 09, 2019 5:45PM ET
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Buzzy lead derpist
Buzzy Jefferson
Buzzy Jefferson Nov 09, 2019 5:45PM ET
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Benjamin McIntire Little Benji Mac&tired listened too intently to his snowflake liberal college profs. They convinced him that the world is full of masculine bullies who don't respect his preferences. So sad.
Mart Bab
Rubberduck1973 Nov 09, 2019 4:43PM ET
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“ I think, very nicely”. I think?? In a periode when market was expecting a deal soon. To Trump, the best deal is getting tariffs. There is’nt going to be another deal, than tariffs. I personally can not understand why market has been going up and up. Unless market is hoping for empeachment???
drew allen
drew allen Nov 09, 2019 4:43PM ET
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impeachment there rubber duck. just looking out for yeah.
jim harklau
jim harklau Nov 09, 2019 4:16PM ET
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Does david w work for the ccp?
David David
David9 Nov 09, 2019 4:16PM ET
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I am just a football referee here.
Ro Be
Ro Be Nov 09, 2019 4:16PM ET
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You mean a football *fan* and your beloved football team is China. Could you say one thing negative about your beloved? No. You continue to support your beloved no matter what happens actual fact
Guhkes Gangsta
Guhkes Gangsta Nov 09, 2019 4:00PM ET
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I guess gold will be green on monday.
David David
David9 Nov 09, 2019 3:45PM ET
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I told you guys ... get ready for Monday, we should hear a loud China Roar if he thinks about poking the Lion again. China already said straight up, there will be no deal if tarriffs isn't rolled back. Trump has very little time. The Mooche already said he think Trump will step down by March. Preident Xi will be the new Quarterback for the next decade and he will throw all the play.
Ron Warren
Ron Warren Nov 09, 2019 3:45PM ET
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Interesting take David! truth is, it's hard to say what will happen. This market has turned into nothing but a roulette wheel. take a chance.
Max German
MaxiGE Nov 09, 2019 3:28PM ET
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this is pure bearish again markets need to react or they will crash
IceIce Baby
IceIceBaby Nov 09, 2019 2:46PM ET
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I just don't care at all what Trump says.
Daytrade SPY
Daytrade SPY Nov 09, 2019 2:36PM ET
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yes.. gap up on sunday. thnk you for the pump
Simina Robert
Simina Robert Nov 09, 2019 2:36PM ET
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You realy find dis news bullish?to me it sounds not so good for the stocks..
Daytrade SPY
Daytrade SPY Nov 09, 2019 2:36PM ET
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Simina Robert  for this trade war what ever trump said or will say will pumps the market up. no matter if its bad news or good news.  unless he stay quiet then the market will die.
Ron Warren
Ron Warren Nov 09, 2019 2:36PM ET
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Daytrade SPY You're absolutely right! Higher highs- higher lows! Rat bastards will run anything out the roof!! Anyone take a good look at PE's lately? Nothing adds up! Someday this market has to go down in flames, at least it would seem so. Question is," How long will the AI hold it up?
 
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