On the sidelines of the G20 Summit in Argentina, U.S. President Donald Trump and China’s President Xi Jinping met for a working dinner on Saturday.
As the News Blender reported on Sunday, the two Countries leaders reached a truce pausing the trade war for 90 days, hopeful that a trade resolution would come quickly.
Since the truce reached between the U.S. and China, President Trump has tweeted nine times about the deal.
Sunday he tweeted that China agreed to “reduce and remove tariffs on cars coming into China from the U.S.,” adding in his tweet that the tariff is currently 40 percent.
Monday he continued tweeting about his deal with China saying his meeting with “President Xi of China was an “extraordinary one,” telling farmers they would be “a a very BIG and FAST beneficiary of our deal with China,” adding, “Farmers, I LOVE YOU!, telling the world that only he and President Xi, “can bring about massive and very positive change, on trade and far beyond, between our two great Nations.“
He ended Monday’s tweets about China by stating, that he is certain that at “some time in the future,” he and President Xi of China and Russia’s President Putin, “will start talking about a meaningful halt to what has become a major and uncontrollable Arms Race. The U.S. spent 716 Billion Dollars this year. Crazy!”
On Tuesday President Trump once again tweeted about China and the deal the two President’s reached on Saturday.
He explained in his first tweet that “the negations with China,” had already started. He adds that “Unless extended, they will end in 90 days,” from Saturday the date of his “wonderful and very warm dinner with President Xi.”
In the above tweet he announces that his, U.S. Trade Representative, Bob Lighthizer, his Treasury Secretary, Steve Mnuchin, his top White House economic adviser, Larry Kudlow, his Commerce Secretary, Wilbur Ross, and his Director of the Office of Trade and Manufacturing Policy, Peter Navarro, will be the team that with see, “whether or not a REAL deal with China is actually possible.” He continues “if it is, we will get it done.” He says that China “is suppose to start buying Agricultural product and more immediately,” he concludes the tweet by saying “President Xi and I want this deal to happen, and it probably will. But if not remember,……”
He continues the thought in the next tweet stating “I am a Tariff Man.” He concludes the tweet by writing in all caps, “MAKE AMERICA RICH AGAIN”
In his last tweet that focuses on trade policy with China, President Trump writes, “…..But if a fair deal is able to be made with China, one that does all of the many things we know must be finally done, I will happily sign. Let the negotiations begin,” he ends the tweet the same as the when above in all caps, “MAKE AMERICA RICH AGAIN!”
Saturday the White House released a statement regarding the meeting between the two Presidents, the statement called the meeting, “highly successful.”
The White House explained that President Trump has agreed to leave the 10 percent tariffs on $200 billion worth of China products, and will not “raise it to 25 percent,” on January 1st as intended.
The statement says that while the amount of agricultural, energy, industrial, products China has agreed to purchase has not been decided it will be “very substantial.”
The Washington Post notes, that “investors,” applauded the deal on Monday, but sharply turned negative on Tuesday with the Dow Jones Industrial average dropping more than 800 points.
The Post goes on to explain that over the last 24 hours it seemed that “there were signs,” that some officials inside the White House were “beginning to backpedal,” away from their initial optimism that a deal will be reached between China and the U.S. within the ninety-days.
On Monday according to the New York Post, Larry Kudlow, the White House top economic adviser, told reporters during a conference call that “we don’t yet have a specific agreement on that,” regarding the removal of the 40 percent car tariff.
The article goes on to say that Kudlow referred to the deal reached as an “understanding,” between the foreign leaders.
CNN reports as of 2:45 p.m. eastern time that the Dow has dropped 805 points, while the S&P 500 “declined 2.5%.”