Trump is growing closer to sealing a trade deal with China, but some advisers are urging the White House not to rush it in the interest of calming nerves on Wall Street
President Donald Trump is growing closer to sealing a trade deal with China, but someInstead, China hawks are pushing for an agreement that would continue to keep financial markets on edge with an ever-present threat of tariffs and the prospect for more trade strife between the two economic powers.“Trump has done what everyone said was impossible — catch the Chinese off guard. They never thought he would use the weapons at hand.
Mixed messages on the status of an agreement have been coming from two sides close to the White House: Advisers who want to calm the markets and at the same time appease Trump’s fixation on stock performance, including National Economic Council Director Larry Kudlow and Treasury Secretary Steven Mnuchin, have been expressing optimism in recent days that a deal is almost completed.
“We have encouraged the president to stay tough and we believe he will,” said Dan DiMicco, who advises Trump on trade issues and is a supporter of his tariff policies. But DiMicco, former CEO of Nucor, the nation’s largest steel producer, said that’s only further evidence that Trump might not decide to agree to anything if the terms aren’t right.
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