Monday morning, Asian stock markets plummeted and China’s currency plunged to an 11-year low following the latest tariffs on China announced Friday by President Trump. And lo and behold, China is suddenly ready to seek a “calm end” to the trade war. Trump said he got a call from Chinese officials expressing interest in getting “back to the table.” He said, “They want to make a deal. That’s a great thing.”
Treasury Secretary Steven Mnuchin told reporters Sunday that if "China would agree to a fair and balanced relationship, we would sign that deal in a second." Sounds like they might be ready to agree.
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But then there’s also this, from the Fox News account:
“Stephen Innes, a managing partner at Valour Markets in Singapore, compared the difficulty of assessing the volatile market situation to reading tea leaves. ‘Nobody understands where the president is coming from,’ he said, adding that the best thing Trump can do for market stability is to ‘keep quiet.’”
With all due respect, keeping quiet and valuing market stability over American workers is what led to decades of China ripping off the US. Trump is playing rope-a-dope, and it’s working. I suspect these same geniuses would have advised Muhammad Ali to just stand still and let his opponents punch him until their arms got tired.