Trump says stock market gains since election give him opportunity to wage a trade war: 'We’re playing with the bank's money'
collected by :Molly Tony
President Donald Trump said the stock market rally since his election victory gives him the opportunity to be more aggressive in his trade war with China and other countries. You know the expression we're playing with the bank's money," he told CNBC's Joe Kernen in a "Squawk Box" interview aired Friday. The S&P 500 is up 31 percent since Trump's win on Election Day, Nov. 8, 2016, through Thursday. Trump added the market would likely be much higher if he didn't escalate the trade issues with China and the rest of the world. So far in the trade war between the two largest economic powers in the world, the U.S. has slapped tariffs on just $34 billion of Chinese products, which China met with retaliatory duties.
President Donald Trump said the stock market rally since his election victory gives him the opportunity to be more aggressive in his trade war with China and other countries. You know the expression we're playing with the bank's money," he told CNBC's Joe Kernen in a "Squawk Box" interview aired Friday. The S&P 500 is up 31 percent since Trump's win on Election Day, Nov. 8, 2016, through Thursday. Trump added the market would likely be much higher if he didn't escalate the trade issues with China and the rest of the world. So far in the trade war between the two largest economic powers in the world, the U.S. has slapped tariffs on just $34 billion of Chinese products, which China met with retaliatory duties.
Cramer: I think Trump is winning the China trade war, and the US stock market backs me up
President Donald Trump is beating China in a trade war that could soon escalate, CNBC's Jim Cramer said on Friday. Cramer said in a "Squawk on the Street" interview he disputes the argument that there are no winners in a trade war. Look no further than the stock market for confirmation that the U.S. is getting the best of China on trade, he said. That's one of the reasons behind the Trump administration's trade offensive against China. The White House also cites as unfair the $300 billion-plus annual trade deficit in goods that the U.S. has with China.US stock market lower amid US-EU trade tensions
As it stated in The U.S. stock market slipped Thursday after eBay forecast third-quarter profit below analysts' estimates and investors worried about escalating trade tensions between America and the European Union. The decline follows a five-day rally and signals investors' focus on second-quarter earnings, which so far have topped analysts' expectations. IBM's second-quarter earnings, released Thursday, topped Wall Street's expectations. The Dow rose 79.4 points, or 0.32%, to 25,199.29. In Europe, London's FTSE rose 0.22%, Germany's DAX was 0.36% lower and France's CAC was down 0.41%.Traders debate how a trade war will affect the stock market
It's that "to date" part that has gotten a large part of the investor base considerably more nervous. This is a major issue that the market, up until today, has been completely neglecting."The commodity markets aren't neglecting the threat. Copper is down dramatically in the past month on concerns over a slowdown in China and an increase in trade tensions. The Fed said this a month ago (June 12 to 13) — a time when tariffs looked like only a remote possibility. What side of this debate do you think they will be on now that tariffs have become very real?
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