US President Donald Trump stated that relations with China are “good” but that caution is necessary, sending new messages regarding the trade tensions between the two countries. “I think our relationship with China is good,” Trump said. “We have a great relationship with President Xi Jinping, and while it can get tense at times, we need to be careful.”
Trump's statement follows a recent warning from U.S. Trade Representative Jamieson Greer, who said Washington could impose tariffs of up to 100% on China on November 1st or earlier. These statements have caused an estimated $2 trillion in losses in the U.S. stock market.
Trump also criticized Spain for not contributing enough to NATO spending. “I think Spain has been disrespectful towards NATO. That's why I've considered imposing trade sanctions, in other words, tariffs,” he said, emphasizing that he's “very unhappy” with Spain's stance on defense spending.
*This is not investment advice.