FLASH: President Trump said that the US will enjoy a “very big spike” in stock markets if he closes a trade deal with China.
“As soon as these trade deals are done, if they get done, and we are working with China, we’ll see what happens, but I think you’re going to see a very big spike,” President Trump told reporters as he departed the White House Friday to review tornado damage in Alabama.
President Trump’s chief economic adviser Larry Kudlow said the US wants a good deal with China, we are not rushing. “This idea of a quick deal just to get a pop in the stock market, I just want to strenuously disagree.”
The S&P 500 Index has risen about 28% since President Trump was elected, and is up nearly 10% YTD.
Mr. Kudlow said early Friday that negotiations between US and Chinese officials have been progressing via video-conference and telephone since the last round of face-to-face talks in Washington 2 weeks ago, when Trump indefinitely extended a tariff truce.
There is no date scheduled for President Trump to meet President Xi to finalize an agreement, though a summit could take place later this month or next at President Trump’s Mar-a-Lago estate in Florida.
Negotiations are “moving along very nicely,” Mr. Kudlow said. “If it does not measure up, the United States will stick to its guns.”
As per President Trump, “All or nothing at all”
Have a terrific weekend