Trump’s trade tweets not only threatened Asian markets this week but invited China to come save the day with a surprising and unorthodox message of trust

SAUL LOEB/AFP/Getty Images

• China’s reticent Ministry of Commerce (MOFCOM) intervened in declining Asian markets Wednesday, with a surprise message of trust, during the increasingly opaque trade war truce supposedly delivered at the G20 leaders summit in Argentina.
• That stands in pretty stark contrast to the volley of Tuesday tweets from President Donald Trump that smacked Wall Street and sapped confidence in the US-China trade deal.
• But just as Asian markets began to retreat due to Trump’s tweets and Beijing’s silence, MOFCOM released an unconventional statement essentially stating its confidence in a trade deal for the first time, saying “the sooner the better.”
• China commentator Bill Bishop reckons that while Trump has put the right man on point to deal with China, the bigger picture is simpler — in the last month President Xi has been shuttling around the world building relationships, and President Trump has not.

Asian-Pacific stock markets may have been saved from the brink, on Wednesday, after China’s often reticent Ministry of Commerce (MOFCOM) intervened with a message of confidence and commitment in the opaque trade war truce between the US and China, supposedly delivered at the G20 leaders summit in Argentina. 

US stocks tanked on Tuesday and Asian markets were in decline after a morning of tweets from President Donald Trump that further eroded confidence in the US-China deal to step back from the brink of an escalating trade war.

See the rest of the story at Business Insider

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See Also:

• Trump could cost Europe $ 75 billion if he follows through with his threat to tax EU car imports
• Goldman Sachs has formulated these low-risk, high-reward trading strategies to help investors profit from the G20 summit
• GOLDMAN SACHS: Trump’s meeting with Xi is likely to make the trade war much worse

SEE ALSO: Trump calls himself ‘Tariff Man’ during raging tweetstorm on China trade war, and the stock market tanks

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