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Trump Says Dow Would Be 10,000 Points Higher Without Trade War

Published 09/04/2019, 01:04 PM
Updated 09/04/2019, 01:45 PM
© Reuters.  Trump Says Dow Would Be 10,000 Points Higher Without Trade War

© Reuters. Trump Says Dow Would Be 10,000 Points Higher Without Trade War

(Bloomberg) -- Donald Trump said his trade war with China has hurt the performance of the U.S. stock market, but that he had to confront the country’s economic practices.

“Let me tell you, if I wanted to do nothing with China, our stock market, our stock market would be 10,000 points higher than it is right now but somebody had to do this,” the president told reporters at the White House on Wednesday. “It was out of control and they were out of control.”

The Dow Jones Industrial Average stood at 26,332 as of about 1:00 p.m. in Washington, up less than 1 percent for the day. Trump increased tariffs on Chinese imports this week to try to elbow Beijing into resuming talks on a far-reaching trade deal.

“We’ll see what happens, if they want to make a deal, they’ll make a deal, if they don’t want to make a deal, that’s fine,” he said.

He declined to say whether Chinese negotiators will visit Washington this month.

Latest comments

DT just keeps on talking but no action for a fair-deal.  How to make America Great Again?
DT actually has no say about tariffs but those men behind. He doesn't understand economy
Oh did Trump mention if no deal with China, DOW would be 10,000 Points down.Relax, Trump wants a deal more than all of us added together. There will be a deal, a TRUMP orchestrated deal with all countries.
if no deal with china, fed cuts rate much more and much much more QE! on the other hand, if a deal goes on, the FED will not have an excuse to cut rates at this "great" economy...
Thank you David for your factual view. Trump is doing his utmost to squeeze the most out of China, Europe, Japan, South Korea, North Korea and most importantly the American people!Tariff = TAX. READ Trump's Lips Americans.
I have been telling you guys ... Trump wants a deal really bad. China does not want a deal now. As long as Trump doesn't see eye to eye and meet halfway that would benefit both, there is not need for China to talk. China think decades out, so this small time market being down is nothing for them. Thrybare already building new relationships and setup new supplies with the other nations. Trump is going to hurt the US economy really bad over time as these gets played out. China is a superpower, so it is very hard to keep them down long.
It seems u are a chinese national and always making negtive comments anout USA
yes probably a Chinese govt plant. Anyway USA does not want a deal. We started this remember. We want fair trade and a stop to intellectual property theft. The entire Chinese economy is built on reverse engineering and theft.
He is just talking about the deal more that one year. Speaker, not maker.
trump and the complicit Republicans are dead in the water
“We’ll see what happens, if they want to make a deal, they’ll make a deal, if they don’t want to make a deal, that’s fine,” he said.. . . well this is refreshing
Strong service sector news out of China today only means one thing.....Xi in Trump’s tariff game for the long haul. Good-bye Mr. Trump.....
Remember where those numbers come from. Most likley cooked books. China in deep trouble.
What would Obama have done about china?
Interesting you ask. Despite what Trump would tell you, Obama’s policies were very anti-China with his stressing of the China Containment Doctrine. Years of work were put into de-escalting China’s power with the culmination being the TPP which would have unified multiple nations in Free Trade (except for and against China specifically) and elimnate the need for NAFTA altogether as Canada and Mexico were also (and still remain) part of the new TPP. Nearly immediately after inauguation, Trump abandoned TPP reversing nearly 10yrs of work and negotiation. At this point, China’s economic powet would be diminishing greatly, but now were are in a bilateral war with everyone as a result instead. So to answer your question, it’s not what would Obama have done, but why on earth arent we continuing what he did!
He did nothing sort of like crossing that line, Benghazi, North Korea, and Iran. What a mess Trump inhereted!
Trump's foggy view of the world is laughable he has vecome the joke of late night tv and the rest of the world. He only listens to his ego and runs the country based on ultra conservative talk only if it supports his ideas.
Hey DJT... you arent making the compelling argument that you think you are...
The folly in this charade is there's no way to enforce any "deal" China agreed to. Maybe they play nice for a few months but it's right back to business as usual after that.
Today, September 4, 2019, the world witnesses the enormous injustices that the dictator Trump government commits with Iran, Iraq, Libya, Venezuela, Mexico, China, Russia, Europe and the rest of the world.. Enough of injustice and inequality and of arrogant and ignorant leaders who compromise peace and the world economy for childish tantrums and personal ego.. . . How can such a vile being decide the destiny of mankind?
If they continue like this, will be 10.000 points lower in the next 12 months.
"...and the fed reduced rates several basis points AND introduced several rounds of QE."  Who's he think he's kidding?  Tool.
without him imposing crazy taxes In late July then the market would be looking nice now but no. Everyone suffering just off of what he does and tweets.
Hmm. I'll take the 10,000 points. Why make ME suffer for your actions. Do it WITHOUT affecting peoples finances.
Without him world would be in better shape.
no way. he has the guts to *******the bullet. he didnt start this, but he will stop it. bet on it.
he's right you could have left things alone and they would have continued to carry on with their lack of Ethics in trade.
Econs 101 A trade involves both a willing buyer and a willing seller. Don't see how there's any breach in ethics
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