Optimism about a rapid resolution of the months-long US-China trade war was undercut by conflicting comments out of Washington and Beijing, sending global stock markets on a downward slide on Friday.
President Donald Trump said he remains optimistic but will not agree to a pact with China unless it is a “very good deal”. And an economic adviser said Trump could walk away from the negotiations.
The economic superpowers have been locked in a trade battle since last summer, striking out with steep tariffs on more than $360 billion in two-way trade, which is beginning to sap economic growth and business confidence. “I am confident but… if this isn’t a great deal, I won’t make a deal,” Trump told reporters as he departed the White House to visit tornado-damaged Alabama.
But he added, “We will do very well either way, with or without a deal.” US and Chinese officials have said they are making progress toward a resolution of the dispute but a US diplomat in Beijing said Friday that an agreement was not imminent.
