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

Stock Markets Nov 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 (21)
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.
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.
 
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